BenQ to Aquire Siemens Mobile

Your next Siemens phone could be say BenQ on it, as the struggling mobile division of Siemens, gets snatched up by BenQ.

With BenQ acquiring Siemens Mobile, the new company will be listed as the world’s fourth largest cell phone maker with expected combine annual revenue of $10.9 billion USD.

“Today marks the next step in bringing BenQ’s enjoyment philosophy to the worldwide market,” said K.Y. Lee, BenQ Chairman & CEO. “The acquisition of Siemens’ mobile handset business allows us to bring the strengths of both companies together, enhancing our efforts to bring mobile handsets that reflect today’s digital convergence.”

Upon approval, the new acquisition will begin October 1st 2005. As part of Benq’s transition, they will be able to use the Siemens trademark on their mobile phones for 18 months. The new company logo is expected to say BenQ-Siemens.