BenQ Mobile to soon launch co-branded Siemens mobile phones
BenQ Mobile GmbH has announced that they would be launching three new mobile phones co branded with their recently bought Siemensâ€™ mobile phone operations. This would be the first time that the company would launch co-branded mobile phones using the name of their recently acquired division of German tech giant Siemens.
BenQ acquired Siemensâ€™ mobile division earlier this year and they now plan to hold the launch ceremonies at two locations, Germany and Shanghai. BenQ agreed to take over Siemens’ loss-making handset division in return for a payment from Siemens of â‚¬250 million (US$295 million). In return, Siemens also promised to purchase a â‚¬50 million stake in BenQ.
The deal was completed by the forth quarter of the current year. And the company now has an ambitious plan to double its global share of the mobile phone market to 10 percent within two or three years. They also plan to reach a stage of profitability by the end of 2006 and reduce costs by â‚¬500 million without laying off a single worker. Now, this is the way you got to do business in todayâ€™s time and American and European companies can pick up a thing or two from these Asian companies.