Siemens sells its phones
The Taiwan-based BenQ Group is to buy Siemens’ entire mobile phone business for 50 million Euros.
As part of the deal, BenQ will acquire all of Siemens’ development and manufacturing locations in
A factory in
In addition to the factories, Siemens has also given the BenQ Group the rights to its brand and name, which BenQ will be allowed to use for five years.
The closing of the deal, which will affect over 6,000 Siemens employees worldwide, is expected to take place in the fourth quarter of Siemens’ 2005 fiscal year.