(Reuters) – Telecom tools maker Nokia (HE:) has been exploring choices for its cellular networks enterprise and has drawn curiosity from suitors together with Samsung Electronics (KS:), Bloomberg Information reported on Thursday, citing individuals acquainted with the matter.
Nokia has thought-about a number of choices together with a divestment, promoting some or all of its cellular networks enterprise which could possibly be valued at as a lot as $10 billion, in addition to combining the enterprise with a rival, Bloomberg stated.
The information comes after Nokia reported final month that its second-quarter working revenue dropped 32% as a result of weak demand for 5G telecom tools.
Samsung, the world’s largest maker of reminiscence chips, smartphones and TVs has expressed preliminary curiosity in buying some Nokia property because it seeks to realize scale within the radio entry networks that join cell phones to telecom infrastructure, the report stated. The talks are nonetheless at an early stage with no assure {that a} deal would happen, in response to the report.
Nokia instructed Reuters it doesn’t touch upon market rumours or hypothesis, including that the Finnish group is dedicated to the success of Cellular Networks, “a highly strategic asset for both Nokia and its customers”.
Samsung Electronics declined to touch upon the Bloomberg report.
