NRTLQ - Nortel Networks Corp. - Page 2

Testing the HOD again. Hopefully it will close at a new HOD.

Also higher than avg daily volume. Looking good for the upside.

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Press Release Source: Nortel


LG-Nortel to Develop IP Desktop Phones Built on Microsoft's Unified Communications Platform
Monday June 26, 12:01 am ET
Cooperative Efforts Support Strategy to Simplify Business Communications
www.LG-NORTEL.com


SEOUL, Korea, June 26 /PRNewswire-FirstCall/ - LG-Nortel, a joint venture of LG Electronics and Nortel(x) (NYSE/TSX: NT), will develop and market with Microsoft Corp., a business enabled IP desktop phone built on Microsoft's unified communications platform to provide powerful communications for medium- to-large enterprises and government departments.
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Based on Microsoft Office Communicator phone experience and designed for intelligent communication across business applications, networks and devices, the new IP desktop phones will work with Microsoft Office Communications Server 2007 presence-awareness, powerful IP call management features and enhanced instant messaging capabilities. Users will be able to locate and communicate with customers, colleagues and business partners within a more highly integrated and secure environment that works seamlessly with Microsoft Office Communicator 2007 and a range of other communications options that support more flexible and effective communications.

"Microsoft's strategy for unified communications supports the development of innovative devices that enable a more intuitive and effective unified communications voice experience," said Zig Serafin, general manager of the Unified Communications Group at Microsoft. "We look forward to continuing to work with LG-Nortel on IP desktop phone innovations to create new levels of business value for our enterprise customers."

"We envision this winning combination of the LG-Nortel IP business desktop phone with Microsoft's unified communications platform to have a strong impact on the market as it helps end-users communicate, collaborate and make informed decisions more quickly and efficiently," said Jong Dae An, head of LG-Nortel's international enterprise sales division. "Working together, we are committed to developing advanced devices and solutions that simplify business by facilitating more effective communication."

The initial target market for the LG-Nortel business enabled IP desktop phone is small to medium sized companies and government departments in selective markets across North America, Europe and Asia, including Korea, from 2007. Both Microsoft and LG-Nortel will market the new IP desktop phone to Microsoft customers worldwide as well as through LG-Nortel's global distribution network of operators and channel partners.

LG-Nortel previously announced a strategic relationship with Microsoft in May 2006 when the two companies signed a Memorandum of Understanding (MoU) for broad range collaboration in VoIP, including the joint development and marketing of Windows CE-based IP terminals and the new Windows CE 6 videophone.

About LG-Nortel

LG-Nortel is a joint venture between LG Electronics and Nortel, officially launched in November 2005. LG-Nortel offers advanced telecommunications and network solutions in wired and wireless telecommunications, optical and enterprise areas for Korean and global customers. Its main divisions are Carrier Networks and Enterprise Networks businesses. Prior to the establishment of the joint venture, LG Electronics and Nortel had a close collaboration and were selected as network suppliers for KTF and SK Telecom's HSDPA/WCDMA networks. The company's sales and marketing departments are in the company's GS Tower building in Kangnam-gu, Seoul and its R&D center in Anyang, Geonggi province. For more information on LG-Nortel, visit www.LG-NORTEL.com.

About Nortel

Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world's most critical information. Our next-generation technologies, for both service providers and enterprises, span access and core networks, support multimedia and business-critical applications, and help eliminate today's barriers to efficiency, speed and performance by simplifying networks and connecting people with information. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.

Yeah, they seem to be. Hopfully will hear some more good news shortly! This one is just way to low.

Nortel Outlines Action Plan to Improve Operating Margins and Business Performance

Nortel Outlines Action Plan to Improve Operating Margins and Business Performance
Tuesday June 27, 7:00 am ET
Mix of Cost Reduction Strategies and New Business Initiatives to Increase Competitiveness


TORONTO, June 27 /PRNewswire-FirstCall/ - In connection with its previously announced Business Transformation plan to increase competitiveness by improving operating margins and overall business performance, Nortel(x) (NYSE/TSX: NT) today announced significant changes to its North American pension programs as well as a net reduction of approximately 1,100 positions globally. Nortel also announced a series of new initiatives to create a world-class Operations organization. Today's announcement is the latest in a series of actions Nortel is taking to achieve a targeted operating-margin expansion in excess of US$1.5 billion in 2008.
"I am confident in the progress we are making in turning around Nortel and recreating a great company," said Mike Zafirovski, Nortel president and CEO. "In the past few months we've taken important steps, some with near-term impact, and others with longer-term benefits, toward transforming our operations to be more efficient and customer-focused. Today's announcements continue our efforts to increase competitiveness, better manage our costs, and secure the resources to fuel Nortel's innovation."


Key Company actions announced today include:

- Pension Plan: changes to control costs and align with
industry-benchmarked companies. These changes are expected to
result in an estimated annual reduction of US$100 million in
pension expense starting in 2008 and savings of more than
US$400 million in cash by the year 2012. This will reduce the
Company's unfunded pension liability deficit by approximately
US$400 million.

- Global Operations: initiatives designed to create a world-class
Operations organization to speed customer responsiveness and to
instill process excellence while reducing costs.

- Organizational Simplification: flatten the organization and shift
to a culture marked by agility and accountability.

The latter two actions result in a reduction of approximately 1,900 positions globally and the creation of approximately 800 new positions in Operations Centers of Excellence. Total cost, both the charge to the income statement and cash, for the Global Operations restructuring and the organizational simplification, is estimated to be approximately US$100 million over the next two years, of which approximately US$35 million of the charge to the income statement is expected to be taken in the second quarter of 2006. The cash cost is expected to be incurred equally over a two-year period. Annual savings from these actions is targeted to be approximately US$100 million in 2007 and approximately US$175 million by 2008.