Business, Telecom & Wireless

Nokia Siemens Networks Reports 13% Revenue Increase In China

Zhang Zhiqiang, president for Nokia Siemens Networks Greater China, has revealed to the Chinese local media that during the second quarter of 2011, the company's sales in China reached EUR402 million, a year-on-year increase of 13%.

According to Nokia Siemens Networks' latest financial report, the company gained operating revenue of EUR3.642 billion in the second quarter of 2011. It was reportedly an increase of 20% compared with the same period of last year and it was the third consecutive quarter for Nokia Siemens Networks to gain profit.

Zhang said that among Nokia Siemens Networks' many businesses, the service department and the 3G businesses saw the fastest growth. So far, the company has accumulated 204 clients in the WCDMA/HSPA sector, and it has 38 business contracts in the LTE sector.

In regards to the Chinese market, the company's sales reached EUR402 million, a year-on-year increase of 13% and an increase of 25% compared with the previous quarter. This was also the third consecutive quarter for the Chinese market to gain double-digit year-on-year growth.

Zhang also revealed that to cut costs and improve operating efficiency, Nokia Siemens Networks plans to cut 1,500 employees worldwide though no detailed schedule has been announced. The employee layoff may affect China as well.

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