Dow Jones: “Market speculation” suggests Samsung to buy Nokia

Dow Jones reports that “market speculation” suggests Samsung is evaluating an offer to purchase Nokia.

The Finnish handset maker is currently mired in dire financial straits. After a brutal second half of 2010 that saw them surrender 25 percent of their market share, Nokia’s outlook continues to look bleak. They now deem it “no longer appropriate” to provide annual targets for 2011. In other words, the future looks so bad, they would just rather not talk about it.

Back in February, when Nokia shocked the mobile world with their announcement to adopt Windows Phone as their “primary smartphone platform,” they promised not to immediately abandon Symbian, the OS that has powered their phones for years.

“Symbian becomes a franchise platform, leveraging previous investments to harvest additional value. This strategy recognizes the opportunity to retain and transition the installed base of 200 million Symbian owners. Nokia expects to sell approximately 150 million more Symbian devices in the years to come.”

However, it is difficult to imagine mobile phone vendors pushing devices that they (and the public) know will eventually be phased out. And without any Nokia Windows Phones for sale at the moment, Nokia may find themselves in a precarious position before the fruits of their new deal are ever released.

Nokia chief Stephen Elop vehemently denied earlier rumors that Microsoft was in talks to buy Nokia. Both Samsung and Nokia chose to not “comment on rumors” but did not deny the possibility of such a deal.

Author: Matthew Ismael Ruiz

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