September 17, 2008 / 2:42 PM / 10 years ago

Nortel says seeks partners for next-gen wireless

TORONTO, Sept 17 (Reuters) - Nortel Networks Corp NT.TONT.N plans to mitigate its exposure to the wireless sector by partnering with others on developing next-generation technology, the company’s chief strategy officer said on Wednesday.

Nortel will seek “some form of partnership that would either de-risk the investment or improve the revenue footprint,” George Riedel told Reuters in an interview. He also said that despite the challenges facing the company, “I think we’ve got momentum as well and if we stay focused on the growth areas with more firepower, we feel confident we can power through this.” (Reporting by Wojtek Dabrowski; editing by Peter Galloway)

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