On June 19, 2006, Nokia and Siemens AG announced the companies are to merge their mobile and fixed-line phone network equipment businesses to create one of the world's largest network firms, Nokia Siemens Networks.[79] Each company has a 50% stake in the infrastructure company and it is headquartered in Espoo, Finland. The companies predict annual sales of €16 bn and cost savings of €1.5 bn a year by 2010. About 20,000 Nokia employees were transferred to this new company.
On August 8, 2006, Nokia and Loudeye Corp. announced that they have signed an agreement for Nokia to acquire online music distributor Loudeye Corporation for approximately US $60 million.[80] The company has been developing this into an online music service in the hope of using it to generate handset sales. The service is expected to launch in late 2007 and would rival iTunes. Nokia completed the acquisition on October 16, 2006.[81]
In March 2007, Nokia signed a memorandum with Cluj County Council, Romania to open a new plant near the city in Jucu commune.[11][82][83] Moving the production from the Bochum, Germany factory to a low wage country created an uproar in Germany.[84][85]
In May 2007, Nokia announced that its Nokia 1100 handset, with over 200 million units shipped, is the best-selling mobile phone of all time and the world's top-selling consumer electronics product.[86]
In July 2007, Nokia acquired all assets of Twango, the comprehensive media sharing solution for organizing and sharing photos, videos and other personal media.[87][88]
In September 2007, Nokia announced its intention to acquire Enpocket, a supplier of mobile advertising technology and services.[89]
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