Nokia Siemens Networks, a new company owned by Nokia and Siemens, started operations. It has approximately 600 customers and operates in about 150 countries, combining deep local presence and know-how with global reach and is ideally positioned to tap growth opportunities in both the wireless and fixed communications markets.

The company starts with strong momentum. Approximately 140 joint bids have been submitted since anti-trust approvals in November 2006, in addition to the separate Siemens and Nokia activities.

Nokia Siemens Networks has five product business units — Radio Access, Broadband Access, Service Core and Applications, IP/Transport, and Operations Support Systems — that provide a full range of products and applications for fixed, mobile and converged networks.

Additionally, the new company addresses the growing demand for services through its Services Business Unit, which has some 20,000 professionals worldwide.

The new company aims to build on the rich research and innovation strength of its parent companies. It will have one of the world's best research and development teams, focused on advancing the development of best-in-class products for next-generation fixed and mobile network solutions.

In 2006, the R&D team that is now part of Nokia Siemens Networks demonstrated the world's first Long Term Evolution (LTE) radio access solution.

Simon Beresford-Wylie, chief executive officer of Nokia Siemens Networks, stated, "We have the size and resources to compete, but we also recognize that true competitiveness goes well beyond scale. Nokia Siemens Networks has the capability to bring true innovation to its customers. We have a company culture that values speed, flexibility, integrity and results over hierarchy.

A deep partnership with Nokia gives us unique insights into end-users and allows us to provide full end-to-end solutions to our customers. And, last but not least, we have a portfolio that is ideal for the world of convergence, with strength in both fixed and mobile systems."