LG selects Samsung, Nokia-Siemens for LTE network…as Nokia Sacks 800

South Korean mobile carrier LG Uplus (032640.KS) has said that it has selected Samsung Electronics, LG-Ericsson and Nokia Siemens Networks as the equipment suppliers for its high-speed LTE networks to be rolled out starting July 2011. Global telecoms operators are betting on the prospects for Long-Term Evolution (LTE) technology on surging data traffic as consumers increasingly surf the Internet on smartphones.

LG Uplus, South Korea's No.3 mobile carrier and a smartphone laggard, seeks to aggressively deploy LTE networks to catch up with its bigger rivals SK Telecom (017670.KS) and KT (030200.KS) in the rapidly growing local smartphone market.

LG Uplus said it is the first local carrier to pick suppliers for LTE equipment. The carrier did not disclose the value of the deals with Samsung Electronics (005930.KS) and LG-Ericsson, a joint venture between LG Electronics (066570.KS), and Nokia Siemens Networks. The operator and top-ranked SK Telecom plan to begin LTE deployment next year, while second-placed KT eyes 2012 LTE rollout.

Also sad news out of Finland from a company statement sent to Reuters indicates that Nokia will be laying off somewhere around 800 employees at their Finnish home base. Affected employees will get the heads up sometime in the next few days, with the layoffs going into effect come January. On the upside, it looks like the severance packages will cover anywhere from 6 to 15 months at the affected employees previous salary rate; on the downside… well, they’re losing their job.