Gasping for air, Nortel to sell off wireless tech
Nokia Siemens Networks will buy Nortel Networks’ wireless technology business for $650 million. Struggling Nortel, a one-time giant in telecommunications equipment, had filed for Chapter 11 bankruptcy in January in hopes of reorganizing. But that is unlikely now. Nokia Siemens said Friday that it will use Nortel’s CDMA and LTE technology to expand its presence in North America. CDMA, or code division multiple access, is one of the two major networks operating in the U.S. and is used by Verizon Wireless and Sprint. LTE, or Long Term Evolution, is 4G wireless technology that will potentially replace today’s mobile networks.
