The Wall Street Journal is breaking news on a major merger in the wireless industry. Nokia and Siemens will merge network equipment operations in a new joint company. The merger, estimated at $31.5 billion will be saved mostly in research and development costs between the two companies.
Siemens has had an checkered past in phone development, tapping both Motorola and BenQ in developing devices, as well as their own in-house development. Siemens ultimately solid their phone business to BenQ, but retained their wireless network business. Nokia has been consolidating its number one standing in the phone manufacturing industry. Earlier this year Nokia and Sanyo announced their merging of phone development for CDMA phones.