Siemens preparing to exit cell phone biz

According to an article on The Register, Siemens is preparing to exit the cellular phone business. The original article from the Sunday Telegraph (registration required), indicates that an announcement will be made at the January 27, 2005 meeting of the Siemens' board of directors.

The mobile division is losing money at an alarming rate and unless a partner can be found, it is expected to close the division.