The joint venture was launched in 2007 and struggled to make profits initially
Nokia has agreed to buy Siemens' 50% stake in their joint venture, Nokia Siemens Networks (NSN), for 1.7bn euros ($2.2bn; £1.5bn).
The deal comes at a time when NSN has started to show profits after a series of cost cutting measures.
Nokia, once a market leader in the mobile phone market, has struggled in that sector amid increased competition.
It said NSN, which makes telecom network equipment, would help it grow in areas such as broadband technology.
"Nokia Siemens Networks has established a clear leadership position in LTE, which provides an attractive growth opportunity," Nokia chief executive Stephen Elop said in a statement.
"Nokia is pleased with these developments and looks forward to continue supporting these efforts to create more shareholder value for the Nokia group," he added.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23123841#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
