August 30, 2024 – In a recent development that has captured the attention of the tech industry, sources privy to the matter have disclosed that Nokia Oyj’s mobile network division has piqued the initial curiosity of potential acquirers, notably Samsung Electronics, among others. While the discussions remain in their nascent stages, the likelihood of Nokia committing to any definitive transaction remains unclear at this juncture.
The estimated valuation of the entire segment, as suggested by insiders, hovers around a staggering $10 billion, prompting Samsung to express a preliminary inclination towards acquiring select assets from Nokia. This strategic move stems from Samsung’s aspiration to bolster its presence in the wireless access network domain, bridging the gap between mobile devices and telecommunications infrastructure.
In response to these speculations, Nokia issued a statement asserting, “Regarding the conjectures published in an article today, we have no announcements to make nor are there any internal projects pertaining to such matters.” The company underscored its commitment to the success of its mobile network operations, terming it a “highly strategic asset.” “This business has made significant strides this year in adjusting its cost base, safeguarding its product roadmap, securing new deals with fresh clients, and enhancing its share among existing customers,” Nokia elaborated.
The Finnish giant emphasized that it remains focused on nurturing the growth and competitiveness of its mobile network portfolio, while keeping all options open for future collaborations and strategic partnerships that align with its long-term vision.
