Nokia Networks completes transfer of part of the wireless network business acquired from Panasonic

Pursuant to the announcement made on July 31, 2014, Nokia Networks has now completed the business transfer of a part of the wireless network business of Panasonic System Networks Company Limited (PSN) in Japan. As originally stated, this includes the transfer of fixed assets, employees and relevant contracts from Panasonic to Nokia Networks.

The agreement covers Panasonic’s mobile phone wireless base station system business for mobile operators and related wireless equipment system business. This acquisition enhances Nokia Networks’ existing mobile broadband capabilities and is expected to reinforce and further improve efficiency and quality control for product development and R&D, as well as strengthen its market share for base station systems and related wireless equipment in Japan.