In the wake of Nokia’s buyout of Nokia Siemens Networks, the company has rebranded as Nokia Solutions and Networks and is now known as NSN.
Nokia announced the acquisition of Siemens’ entire 50 percent stake in the joint venture back last month. NSN is now wholly owned by Nokia and will continue to be consolidated by Nokia. As previously announced, Rajeev Suri will continue as CEO and the NSN Executive Board will remain unchanged as a result of the transaction.
“While our name and brand have changed, I would like to emphasize that our overall strategy and our focus on mobile broadband remain the same,” said Rajeev Suri, CEO of NSN.
NSN’s strong profitability was one of the highlights of Nokia’s second quarter results. After reporting tepid devices sales, Nokia and its investors were encouraged by the performance of Nokia Siemens Networks in the seconds quarter, which posted steady quarterly sales and a non-IFRS operating margin of 11.8 percent.
NSN has managed to deliver four consecutive quarters of profitability.