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Rumors swirled recently, suggesting that Lenovo was considering acquiring Nokia. But a Lenovo executive has tossed some cold water on those reports.
Speaking to Reuters, Lenovo’s chief for Europe, Mideast, and Africa, Gianfranco Lanci, said that the rumors “must be a joke,” adding that “there’s nothing ongoing” with his company and Nokia.
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A marriage between Nokia and Lenovo would seem rather odd, to say the least. The companies don’t necessarily appeal to the same market — Lenovo does well in the enterprise, after all — and there’s no compelling reason for a merger.
Numerous reports have popped up from time to time about the possibility of Nokia being acquired. Back in June, in fact, Samsung was reportedly eyeing a purchase before the company denied those plans. Microsoft also reportedly considered acquiring Nokia before backing out.
For would-be buyers, Nokia looks to be a sinking ship. The company’s market share is plummeting, it lost $1 billion in its last-reported quarter, and it doesn’t appear to have a firm grasp on how to fix itself. And with a market capitalization around $10 billion, Nokia might prove too expensive for any company that’s actually interested in acquiring it.
Correction at 7:40 a.m. PT: Gianfranco Lanci’s title has been fixed.
