BenQ Share Shines in the market after Siemens deal
Siemens announced yesterday that they were going to sell bulk of their mobile business to the Taiwanese mobile giant BenQ. The news has now led to rise in the share prices of the BenQ Company, which is the biggest manufacturer of mobile phones in the Taiwan. The shares of the company rose as much as 2.5% in the markets in Taipei.
They were trading at NT$32.70 as of 9:18 a.m. Siemens is a veteran in the mobile market having manufacturing the devices since almost 2 decades. However, competition from the companies like Motorola and Samsung has led to a stage where it is no longer selling as many units as they would have preferred.
It announced plans to get out of this business quite sometime back and the deal was expected to happen anytime now. They would be paying BenQ around USD 308 million to take on the unit, which is making heavy losses. They would also be buying a stake in the company for around 50 million euros.
Related Posts
BenQ Mobile to soon launch co-branded Siemens mobile phones
Siemens to sell bulk of its mobile business to BenQ
BenQ might cut jobs at Siemens German mobile plants after 2006
BenQ looking at massive growth in mobile sales this year
BenQ-Siemens EF71 mobile phone launched in India

About










Leave a Comment