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The Guardian - UK
The Guardian - UK
Technology
Jack Schofield

Siemens pays to stop making mobiles

"Siemens has paid BenQ to take on its loss-making mobile division. Under the terms of the agreement the German company will pay BenQ €250m to take the division off its hands," reports VNUnet.

"A Siemens spokesperson said that the money will be ring fenced for use within the mobile division, and that Siemens has also agreed to spend €50m buying BenQ shares.

"The deal ... will make BenQ the world's fourth biggest mobile handset manufacturer."

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