Dec 07 2007
Nokia Siemens Network plans to grow faster than market in 2008
Nokia Siemens Networks, the joint-venture of Siemens AG and Nokia OYJ, plans to grow stronger than what it sees as a sluggish 2008 telecoms market, chief executive Simon Beresford-Wylie told Boersen-Zeitung.Beresford-Wylie said he expects only moderate demand growth for mobile and fixed-line infrastructure during 2008, without specifying a percentage.He said the bulk of the planned 2 bln eur joint-venture synergies will be reached next year.Beresford-Wylie added that the company is repositioning itself to benefit from growth in infrastructure related services, in particular in Asia.The company has delayed its 10 pct profit margin target to end-2009 from April 2008, as margins in the telecoms industry are under continued pressure.
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