Amy Thomson, for Bloomberg (via BusinessWeek):

Nokia Siemens aims to eliminate 17,000 jobs by the end of 2013, sell real estate, cut businesses and consolidate jobs and suppliers to reduce annual expenses by 1 billion euros ($1.3 billion) in the next two years. WiMax, a high-speed network technology for mobile devices, has been overshadowed by a rival system called long-term evolution, which has been adopted by the largest telecommunications companies in the U.S. and Europe.

Nokia plans to sell its WiMax business unit to NewNet Communications Technologies. Terms of the deal weren’t disclosed.