June 19, 2013 / 5:11 AM / 4 years ago

French Alcatel cuts costs, plans asset sales

PARIS, June 19 (Reuters) - Telecom equipment maker Alcatel-Lucent unveiled a new plan to reverse years of losses, targeting cost cuts of 1 billion euro and asset sales of above 1 billion by 2015.

Michel Combes, the company’s new chief executive, also said on Wednesday that the Paris-based group would reposition itself as a specialist player by focusing research and marketing efforts on IP networking products and very high-speed broadband in both fixed and mobile.

These promising new products will be managed to maximise growth, while other older fixed and mobile products will be “managed for cash”, the company said.

Alcatel-Lucent competes with Sweden’s Ericsson, China’s Huawei, and Nokia Siemens Networks. (Reporting by Leila Abboud; editing by Geert De clercq)

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