Monday, August 1, 2005

Siemens Establishes New Subsidiary for CPE

Siemens is carving out its Customer Premises Equipment (CPE) Division into a fully owned subsidiary that will focus on the design, manufacture and distribution of the Siemens Gigaset range of cordless phones (traditional fixed line and VoIP), as well as broadband products and home media devices.

The new "Siemens Home and Office Communication Devices" will be based in Munich and managed as part of the Siemens Communications Group.

Paul Reitmeier and Thomas Kresser, who currently run the CPE Division, will also head the new unit, which has around 3,700 employees worldwide and a sales volume of roughly one billion EURs.

"Our goal is to become world leader in the voice, data and video communication devices market -- which is projected to be worth €16 billion by 2010. We will achieve this in close cooperation with leading operators by providing scalable, manageable and cost effective devices for their Triple Play strategies and by addressing end consumers via the retail channels," said Lothar Pauly, CEO of Siemens Communications.

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