- Jul 16, 2001
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FRANKFURT/TAIPEI (Reuters) - Taiwanese technology group BenQ has agreed to take over Siemens' ailing mobile-phones unit, drawing a line under hundreds of millions of euros of losses for the German engineering giant.
The deal, announced on Tuesday, will cost Siemens 350 million euros ($430 million) in losses before tax in sweeteners, transfer costs and writedowns, and will catapult much-smaller BenQ from relative obscurity into the world's top 10 mobile handset vendors.
FRANKFURT/TAIPEI (Reuters) - Taiwanese technology group BenQ has agreed to take over Siemens' ailing mobile-phones unit, drawing a line under hundreds of millions of euros of losses for the German engineering giant.
The deal, announced on Tuesday, will cost Siemens 350 million euros ($430 million) in losses before tax in sweeteners, transfer costs and writedowns, and will catapult much-smaller BenQ from relative obscurity into the world's top 10 mobile handset vendors.
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