Samsung: 'We're Not Looking to Acquire Nokia' (NOK)

June 11, 2012 7:22 AM EDT Send to a Friend
Following reports last Friday that Nokia (NYSE: NOK) might be a target for takeover, at least one large global OEM has denied interest.

According to Reuters, South Korean electronics giant Samsung has denied plans to acquire the Finnish mobile device maker. In a statement, Samsung said "such reports are purely speculation and are not true."

In the past several months, its been mulled that Samsung might be looking to acquire one of its ailing rivals. The other named dropped has been Canada's Research In Motion (Nasdaq: RIMM), which has seen shares drop significantly over the past few years as consumer and business taste has shifted to mobile operating system offerings from Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG).

For its part, Nokia has taken a risk by ditching its Symbian OS for Microsoft's (Nasdaq: MSFT) Windows Phone. Though sales of Nokia's new Lumia lineup haven't been a segment leader, many investors are pinning hopes on a boost when Microsoft launches Windows 8 later in 2012.

Shares of Nokia are down about 2 percent in early trading; RIM shares are flat.


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