BERLIN, Sept 1 (Reuters) - The incoming chief executive of the world's second largest telecom equipment firm, Nokia Siemens Networks, said the struggling industry was set to face more consolidation.
"There is room for three," Rajeev Suri told Reuters in an interview, adding that Nokia Siemens was planning on being one of those left standing from the current crop of five or six telecom equipment firms with global aspirations. The market has seen cutthroat competition for new business during the past few years, driven by Asian vendors, and the outlook remains tough.
The market is led by Sweden's Ericsson, with China's Huawei and ZTE gaining market share at the expense of Nokia Siemens and Alcatel-Lucent.
Shares in Alcatel-Lucent jumped some 20 percent last week on expectations of imminent consolidation in the sector.
Suri, 41, will take the helm at NSN effective October 1. Former CEO Simon Beresford-Wylie will leave in November.
Nokia and Siemens combined their network equipment operations in 2007 and Suri said the integration was finished, and the firm would focus on executing its current strategy under new management. (Reporting by Tarmo Virki; Editing by Rupert Winchester)