Samsung was linked by Bloomberg to a potential move for Nokia’s Mobile Networks assets in a deal which could value the Finnish vendor’s division at $10 billion and address a key weakness in its recent financial performance.
The sensational move is one of several options the news outlet reported Nokia is considering for the unit, which remains a key earner for the company but has struggled in recent times as operator spending on 5G equipment slows.
Bloomberg hinted at other potential buyers beyond Samsung, though noted a deal with Nokia would be a fillip for the South Korean player, which is becoming a contender in the 5G RAN sector.
Nokia is also weighing other options for its Mobile Networks unit, the news outlet wrote.
The division continued to experience misfortune in the second quarter, though Nokia CEO Pekka Lundmark noted comparisons were unfavourably impacted by a strong Q2 2023, when 5G deployments by Indian operators were at their peak.
However, the period also highlighted a willingness by Nokia to adapt by offloading non-core businesses, after it lined up a sale of its submarine networks unit to the French government.
Bloomberg noted a drop in business in the key North American market as a factor impacting Nokia’s mobile infrastructure unit, in particular losing out to rival Ericsson for a major AT&T contract.
Nokia appears to be parlaying such declines in South America, with recent deals in Brazil and Argentina standouts.
Response
A Nokia representative told Mobile World Live (MWL) it does not comment on rumour and speculation, but added it is “committed to the success of its Mobile Networks business, a highly strategic asset” for the company and its customers.
“The business has made significant progress this year both on right sizing its cost base while protecting our product roadmap, and winning new deals with new customers and increasing share with existing customers”.
Nokia’s representative added the vendor is “focused on ensuring that Mobile Networks is positioned to serve its customers” by providing the “best performing networks, investing in its portfolio and creating value” for shareholders.
Last month, Ari Kynaslahti, head of strategy and technology at the Mobile Networks division, told MWL the vendor also expects a boost as deployments of 5G-Advanced gather pace.
The post Samsung linked with $10B move for Nokia mobile assets appeared first on Mobile World Live.
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