Nokia Networks announced today it has completed the transfer of Panasonic System Networks’ wireless assets, which it acquired in July.

The acquisition covers Panasonic’s LTE/3G base station and related wireless equipment business. It also includes the transfer the Japanese firm’s fixed assets and business contracts and more than 300 Panasonic employees.

“This acquisition enhances Nokia’s existing mobile broadband capabilities and is expected to reinforce and improve efficiency and quality control for product development and R&D, as well as strengthen its market share for base station systems and related wireless equipment in Japan,” said Ashish Chowdhary, chief business officer at Nokia Networks.

Nokia is the number one mobile base station supplier in Japan with a 26 per cent market share. The acquisition of the Panasonic unit, with a 9 per cent share, has enabled it to increase its leadership position over Ericsson in country.

Japan’s base station market is estimated to be worth $2.6 billion a year. Nokia’s 35 per cent market share is estimated to be worth $910 million, according to SeekingAlpha.com.