Samsung Bidding On Nokia? The Speculation Continues to Rise
While Nokia’s financial troubles are well documented, a new industry bidder may be quietly in the works. The Wall Street Journal reported that Samsung is under “market speculation” for a piece of Nokia.
At the end of May, Nokia announced that they were lowering their outlook for the second quarter of 2011. To make matters worse Nokia expects net sales to be “substantially lower” as well. The numbers looking so dismal, Nokia will not be providing annual targets to their investors at this time. As of this report, Nokia’s stock market share is down $0.28 to $6.26.
For the time being, in response to the Wall Street Journal, Samsung is staying quiet and would neither confirm or deny the market rumors.
