Nokia sells wireless modem unit to Japanese firm Renesas Electronics for $200 million
Nokia has completed the sale of its wireless modem business to Japanese company Renesas Electronics for a reported sum of $200 million, it said in a statement.
The wireless modem business manufactures wireless modem technology which allows a mobile device to connect to a wireless network by translating the analogue radio signal into a digital format.
It had been responsible for development of Nokia’s wireless modem technologies for LTE, HSPA and GSM standards.
The wireless modem deliverables are incorporated into Nokia devices via chipset solutions developed by external semi-conductor companies.
The move will see 1,100 employees transfer from Nokia to Renesas Electronics.