BenQ to Take Over Siemens’ Mobile Unit

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.

BenQ said the deal would help it to become the world’s fourth-biggest mobile-phone vendor — a position occupied by Siemens until last year. It has since been overtaken by LG Electronics and Sony Ericsson.

The ambitious, 3-year-old company is one of many Asian companies exploiting their manufacturing efficiencies and expertise to take over maturing product lines from U.S. and European companies.

Reuters