South Korea-based tech giant Samsung Electronics has reportedly shown its interest in acquiring some Nokia assets as it seeks to gain scale in the radio access networks that connect mobile phones to telecom infrastructure, said a Bloomberg report.
As per the report, Nokia is exploring its mobile network business. The company is said to have considered several options that include selling some or all of its mobile networks business which could be valued at as much as $10 billion, as well as combining the business with a rival. According to the report the deal is in its early stages which means a lot is yet to happen. Both companies may end up agreeing on a point or may just drop it.
However, it’s important to mention that the report has come just after a month when Nokia reported a profit drop of 32% in its second quarter due to weak demand for 5G telecom equipment.
As far as response is concerned Nokia said in a press release “Nokia is committed to the success of its Mobile Networks business, a highly strategic asset for both Nokia and its customers. The business has made significant progress this year both on right-sizing its cost base while protecting its product roadmap winning new deals with new customers and increasing share with existing customers. Nokia is focused on ensuring that Mobile Networks are positioned to serve its customers building the best-performing networks, investing in its portfolio, and creating value for Nokia’s shareholders,”
