Date
19 November 2017
Nokia aims to boost its network business in Japan through a deal with Panasonic. Photo: Bloomberg
Nokia aims to boost its network business in Japan through a deal with Panasonic. Photo: Bloomberg

Nokia buys part of Panasonic’s network business

Nokia said on Thursday it agreed to buy part of Panasonic Corporation’s telecoms network business to boost its operations in Japan, Reuters reported.

The deal covers Panasonic’s mobile phone wireless base station system business for operators and a related wireless equipment network, according to the report.

The Finnish firm did not disclose the value of the deal, which it expects to close at the start of next year.

The acquisition will “add significant value for Japanese operators,” Nokia Networks executive Ashish Chowdhary was quoted as saying in a statement.

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