Siemens plans cost-cutting in mobile phones division
AFP, Munich, Germany
German electronics giant Siemens said on Tuesday it was planning to cut costs in its phone mobile handsets division, where it is losing both money and market share. Siemens said in a statement it was planning "triple-digit" millions of euros (dollars) in cost-cutting in the division, without specifying further. Nevertheless, the group had not yet decided the fate of the division. Possible options include a sale, restructuring, closure or cooperation with a partner. Siemens, which runs its business year from October to September, booked operating loss of 143 million euros (189 million dollars) in its mobile handsets division in the three months to December.
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