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Samsung Acquisition Rumours Are Baseless Claims Nokia CEO

The rumours about Samsung making an acquisition bid for Nokia are ‘baseless’, Nokia CEO Stephen Elop has declared.

Speaking during the Open Mobile Summit, Elop, calling the rumours ‘baseless’, Elop said that the company was not developing another mobile ecosystem in order to compete with Apple and Google.

“They are just that. Rumours. They are completely groundless. Nokia is not for sale,” Elop said. The company had also previously denied a rumour about software giant Microsoft planning to acquire Nokia.

Instead, Nokia developers are working towards integrating Nokia’s Smartphone hardware with Microsoft’s Windows Phone 7 platform. Nokia WP7 Smartphone will come with the Mango version of the platform when they are launched this Autumn.

Elop has always maintained that the Nokia-Microsoft deal will be beneficial for the Finnish mobile phone giant in the long run but that has not stopped investors from showing their fears by plunging the company’s share downwards.

Samsung was rumoured to have made an acquisition bid for Nokia after the company’s fell down significantly due to its weak outlook for the on-going quarter. Nokia had said that it expects a low operating profit this quarter.

During the summit, Elop assured people by saying that Nokia has a dominant position in markets where Apple and Android virtually had no presence.

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.