Nokia has refuted a Bloomberg report suggesting it is discussing selling its mobile network business with Samsung Electronics or other potential buyers.
“Nokia has nothing to announce regarding the speculations published today, and no related insider project exists,” the Finnish telecom equipment manufacturer stated on Friday.
The company emphasized its commitment to its mobile networks division, describing it as a “highly strategic asset” that has seen significant progress this year.
Nokia highlighted achievements in managing costs, maintaining its product roadmap, and securing new deals.
The Bloomberg report, published the previous day, claimed that Nokia was exploring various options, including a potential sale of its mobile networks business, which could be valued at up to $10 billion.
The report also mentioned that Samsung Electronics had shown preliminary interest in acquiring Nokia’s mobile network assets, aiming to enhance its scale in radio access networks.
However, the report noted that discussions were at an early stage, and there was no certainty of a deal.
Samsung declined to comment on the report. Since its $8 billion purchase of Harman in 2017, Samsung has remained relatively quiet on major acquisitions.
Market observers eagerly await Samsung’s announcements, with Vice Chairman and co-CEO Han Jong-hee hinting at a general shareholders’ meeting in March that significant news might be forthcoming.
The report surfaced shortly after Nokia reported a 32 percent drop in its second-quarter operating profit, attributed to weak demand for 5G telecom equipment.
