Nokia has emphatically rejected the recent rumors of interest by Samsung to acquire its mobile network business. The Finnish telecom giant said it remained committed to the strategic division.

Response to the Rumors – official

It added: “Nokia doesn’t comment on speculation, and in relation to the article published today, there is nothing to announce and no such insider project exists.” “Nokia is fully committed to the success of its mobile networks business, which is an essential strategic asset for both Nokia and our customers.”
That follows a report from Bloomberg yesterday that suggested the Finnish company might be mulling various scenarios, including partial or an outright sale of the division. Changes are apparently still at an early stage, with the processes outlined by unnamed sources being sufficient to send Nokia stock higher by more than 7% on Thursday.

Progress Focus and Future Strategy

It also noted that recent progress at the mobile networks division involved cost reductions, protection of product roadmaps, and sealing new deals. These do form a background for a determination the company has to keep being competitive within its business of telecommunications, with continued global rollouts of the 5G networks.

Industry impact and future outlook

But the rumors, despite Nokia’s stern denial, had generated enough interest in that segment of the industry. By various analyst estimates, Nokia’s mobile networks unit can fetch a value as high as $10 billion, making the stakes extraordinarily high. As the telecom marketplace evolves, so can Nokia’s strategy and structure alter the nature of the global marketplace. Yet, for now, Nokia seems quite dedicated to staying its existing course, in which it is focused on innovation and holding strong customer relationships. Analysts continue to watch with interest what Nokia will do next, but its latest statement certainly gives no indication of it selling out or merging anytime soon.