While the spotlight has been mainly on Nokia’s smartphone business of late as the company negotiates a tricky turnaround with its Windows Phone-based Lumia series, its oft-ignored telecom joint venture with Siemens seems to be finally turning the corner. Nokia Siemens Networks, the 50:50 JV between Nokia and Siemens, recently issued positive guidance for the fourth quarter 2012 announcing that its operating margins (non-IFRS) will exceed its previous guidance on the higher end by at least 100 basis points.
While the spotlight has been mainly on Nokia’s smartphone business of late as the company negotiates a tricky turnaround with its Windows Phone-based Lumia series, its oft-ignored telecom joint venture with Siemens seems to be finally turning the corner. Nokia Siemens Networks, the 50:50 JV between Nokia and Siemens, recently issued positive guidance for the fourth quarter 2012 announcing that its operating margins (non-IFRS) will exceed its previous guidance on the higher end by at least 100 basis points.