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April 29, 1994

NOKIA MOBILE PHONES BUYS PHILIPS’ DANISH CELLULAR RESEARCH UNIT

By CBR Staff Writer

The Nokia Mobile Phones arm of Nokia Oy, Helsinki, Finland is having such success with its cellular phones and equipment that the days when the parent nearly killed itself by overambitious buying are long gone, and Nokia is buying again. It is to take over the Danish research and development unit from the Philips Personal Communication unit of Philips Electronics NV. The Copenhagen operation employs 60 and has substantial experience in the product development of mobile phones, Nokia said. Price and other terms of the deal were not given.

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