Korean vendor Samsung Electronics has strongly denied reported speculation that it is planning to acquire Finnish counterpart Nokia.
“The rumour regarding the acquisition of Nokia is groundless,” said a spokesperson for Samsung.
Shares in Nokia,…
Korean vendor Samsung Electronics has strongly denied reported speculation that it is planning to acquire Finnish counterpart Nokia.
“The rumour regarding the acquisition of Nokia is groundless,” said a spokesperson for Samsung.
Shares in Nokia, which have been gradually falling as the group struggles to compete with smartphone giants Apple and Google, jumped 6% on Friday when the market rumours were first reported.
However, at the time of going to press, the stock had slipped 2% to around €2.34 per share after Samsung said it was not looking to take over the group.
Nokia declined to comment on the developments.
The Finnish firm has previously ruled out plans to put itself up for sale as its rivals take a greater share of the smartphone market.
Previously, industry spectators have also suggested that the group could be bought by US technology giant Microsoft, its strategic partner for mobile devices.
Samsung, for its part, has also been the subject of M&A speculation for another handset maker, Canada’s RIM. But, in January 2012, a Samsung spokesperson said media reports that the group was looking to buyout RIM, which is also under increasing pressure from its smartphone rivals, were “not true”.
