Nokia Sells Its Wireless Modem Business

Nokia seems to be going through a rough patch at the moment, as the company has just announced that it will be selling its wireless modem business to Renesas Electronics Corp for $200 million, and transfer 1,100 workers to the Japanese company in the process. Nokia claims that the deal will enable Nokia to focus on its own core businesses, which does make some sense, considering that Nokia is facing some rather stiff competition from Android, and iOS devices. Nokia still says that the two companies will be increasing cooperation to develop high-speed modem technology, and the deal is still subject to the usual regulatory approvals.

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