In Short:
Nokia assured that it remains dedicated to its Mobile Networks business amid speculation of interest from potential buyers, including Samsung. The company stated there was no official news regarding these rumors. Nokia highlighted its progress in cost management and customer deals and emphasized its commitment to future investments, aiming to enhance performance and shareholder value. The business could be valued around $10 billion.
Nokia has reaffirmed its commitment to the ongoing success of its Mobile Networks business unit, following a report by Bloomberg indicating that the Finnish telecom equipment manufacturer is receiving interest from potential buyers, including Samsung from South Korea, regarding its mobile network assets.
In a statement released on Thursday, Nokia addressed the circulating speculations, clarifying that it has “nothing to announce in relation to the speculations published in an article.”
The company further emphasized, “Nokia is committed to the success of its Mobile Networks business, a highly strategic asset for both Nokia and its customers.” According to Nokia, the Mobile Networks division has made significant strides in the current year, successfully right-sizing its cost structure while preserving its product roadmap, securing new clients, and increasing market share among existing customers.
Nokia asserted its dedication to ensuring that the Mobile Networks unit is well-positioned to assist its clientele in constructing high-performance networks. The company is actively investing in its portfolio to create value for its shareholders.
Bloomberg, citing multiple sources familiar with the matter, indicated that Nokia has been contemplating various options, including a potential divestment or the sale of part or all of its Mobile Networks division, which could hold a valuation of approximately $10 billion. The report also mentioned that the company has considered the possibility of merging this business with a rival entity.
