Siemens to invest heavy to overtake Nokia in mobile gear market

Siemens to invest heavy to overtake Nokia in mobile gear market

German tech giant Siemens has announced that they have planned to invest heavily in their mobile communications division and aim to overtake Nokia to become the second largest player in the world in mobile gear market. Siemens was the world’s third-biggest mobile telecoms network equipment supplier last year with about 13 percent of the market.

They are dominated by industry leader Ericsson and Nokia having 27% and 14% market share respectively. Motorola is also a big player in the market with around 10% market share. They are also getting more competitive as they have found huge success with their Razr range of mobile phones.

The global wireless infrastructure market is currently worth around $49 billion and it is expected to grow by around 10% this year. Christoph Caselitz, president of Siemens mobile networks division said in a statement: “We want to be number-two on the world market for mobile communication technology, and are well on our way toward achieving this goal. We will be enjoying an above average share of this region’s breathtaking growth.”

Siemens is also planning to expand its partnerships in the Asian region which is one of the fastest growing mobile markets in the world.

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