[News] Nokia’s Potential Mobile Network Business Sale Reportedly Attracts Samsung’s Interest

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As per a report from Bloomberg citing sources, Finnish telecommunications company Nokia is said to be having discussions on potential options for selling its mobile network business, of which is estimated to be valued at around USD 10 billion.

The sources cited in the report indicated that Nokia has been discussing various options for handling its mobile network assets with advisors. Its mobile network division has been facing tough competition from larger rivals like Huawei in recent years. Possible scenarios under consideration by Nokia include partial or full sale, spin-off, or merger with a competitor.

Sources further reveal that Samsung has shown preliminary interest in acquiring part of Nokia’s mobile network assets to expand its presence in radio networks, which connect user phones to telecommunications infrastructure. Additionally, any asset sale by a competitor naturally attracts interest from rivals.

Regarding the rumor, a Samsung representative declined to comment, while a Nokia spokesperson stated that the company is committed to the success of its mobile network business, which holds high strategic importance for the company.

In a statement released after publication, Nokia stated to Bloomberg that it has “nothing to announce” and mentioned that there is “no related insider project.”

Nokia, which was once the world’s top mobile phone supplier, eventually sold its mobile phone business after losing market share to Apple and Samsung. Since then, the company has shifted its focus to producing equipment for communication networks, including the hardware that transmits signals for mobile devices.

During the early phase of the 5G upgrade, demand from telecom service providers in the mobile communications market was strong.

However, this demand has begun to decline, reportedly due to delays in network upgrades, especially in Europe. This further suggests that Nokia may need to seek new business opportunities to reduce its reliance on the telecom network deployment market.

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(Photo credit: Nokia)