Samsung denies purchasing Nokia

I am not quite sure what to think of this story – that despite rumors going around that Samsung is going to pick up Nokia as part of their shopping spree, the South Korean conglomerate has officially stepped forward to deny such rumors, saying that the reports and speculation that arose last week were “purely speculative and are not true.”

Having said that, when speculation of a buyout from Samsung made its rounds last week, Nokia’s shares surged by around 6%, but with today’s official denial of such rumors, the stock of the Finnish phone manufacturer dropped by a couple of percentage points. Not too shabby though, as there is still a 4% cushion to fall back on.

Either Samsung does not know what to do with Nokia in their stable, or they do not see any future in the company. What do you think? Do leave your comments below.

Edwin Kee
Categories: Cellphones
Tags: Nokia, Samsung