Samsung Electronics Co., the world’s top smartphone maker, showed initial interest in the mobile networks business of Nokia Oyj, a global telecom equipment giant, a media reported, as industry sources said the South Korean tech behemoth may seek the assets to become the world’s second-largest player in the sector.Bloomberg on Aug.29 reported Nokia’s mobile network assets are drawing preliminary interest from suitors including Samsung amid increasing pressure to find new growth in the troubled telecom equipment sector.
The Finnish company has considered several different scenarios, from selling some or all of the division, to spinning it off or combining with a rival, according to the report.“Samsung has expressed initial interest in acquiring some Nokia assets as it seeks to gain scale in the radio access networks that connect mobile phones to telecom infrastructure, the people said,” Bloomberg said.“ Any potential divestments could also attract interest from other rivals, the people said.”The report came as Nokia has been struggling in competition against Chinese rivals such as Huawei Technologies Co.
SAMSUNG MAY NEED NOKIA’S ASSETSSamsung’s headquarters has yet to take an official stance on the report, while Bloomberg said a company representative declined to comment.The world’s No.1 memory chip and TV maker may have been interested in Nokia’s assets to foster the wireless network business for its future technologies such as artificial intelligence and autonomous driving, industry sources in Seoul said.
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