Nokia is making a $16.6 Billion dollar move to try and become more competitive with their new purchase of Alcatel-Lucent. This move is aimed to help Nokia be able to compete with new pressure from low-cost competitors like Huawei and ZTE in a very crowded market. Alcatel has a full lineup of phones, tablets, and even smartwatches and should be an interesting addition to the Nokia lineup. Reuters has the details.
Nokia is to buy Alcatel-Lucent in an all-share deal that values its smaller French rival at 15.6 billion euros ($16.6 billion), building up its telecom equipment business to compete with market leader Ericsson.
The deal will redefine a sector suffering weak growth prospects and pressure from low-cost Chinese players Huawei and ZTE.