Nokia Corp. (NOK) has completed the sale of its wireless modem business to Renesas Electronics, the company reported. The unit was responsible for the development of Nokia’s wireless modem technologies for LTE, HSPA and GSM.
The sale and transfer of nearly 1,100 employees highlights the Finnish company’s ongoing transition away from core technology and infrastructure hardware businesses. Terms of the deal, which was first announced on July 6, were not disclosed.
Japan-based Renesas Electronics came together last April through the combination of NEC Electronics Corp. and Renesas Technology Corp.
Nokia sells modem business to Renesas Electronics
ABOUT AUTHOR
