Ericsson wins Nortel assets but Q2 results impacted by downturn - Rethink Wireless

Ericsson wins Nortel assets but Q2 results impacted by downturn - Rethink Wireless

Ericsson has won the bidding to buy the wireless assets of Nortel. They paid $1.3bn which was considerably larger than $650m initially offered by Nokia Siemens Networks (NSN).

This will put Ericsson in a good position to get into the CDMA migration LTE game in North America. it's surprising that NSN let the Nortel assets get away since the wireless division was profitable and both the Swedes and Fins have been trying to expand operations in the North American markets.

Nortel also has a well regarded LTE IP portfolio which now goes to Ericsson too. Ericsson now becomes the second largest CDMA provider only down from ZTE.

However on the same day Ericsson published their results which were "disappointing".