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June 9, 2011

Samsung Buyout Of Nokia..! Rumor or Reality




News out of Finland has put Samsung as the latest potential buyer of ailing mobile vendor Nokia, shifting focus from Microsoft, which was also rumoured to be tabling a bid for the company.

However Nokia CEO Stephen Elop " has denied " any plans by Nokia  to sell out:.Addressing the the Open Mobile Summit in London today, The Nokia CEO 'clarified that    Speculation about Microsoft  and  Samsung   Planning  to acquire the Finnish mobile giant, are just unfounded rumors

Reports of a Samsung takeover by the WSJ may hold more weight than the speculative tweets of industry insider  Eldar Murtazin.Nokia, which is currently working on readying Windows Phone devices to release in the fourth quarter of 2011, recently laid off 7,000 staff as it tried to streamline operations.

Stephen Elop ,one of the most  charismatic CEO of Nokia  is known the for a memo to Nokia employees in February 2011 saying that the company is standing on a “burning platform”and we must decide how we are going to change our behavior.”

Nokia which was the world leader even 5 years ago,  has failed to keep up with competitors has been rapidly losing smartphone market share in the past couple quarters. But it’s been even easier to realize this by using a smartphone built by Nokia and an iPhone or Android device. Simply put, Nokia’s smartphones aren’t good enough.

Reports of a Samsung takeover by the WSJ may hold more weight than the speculative tweets of industry insider Eldar Murtazin, Eldar's previous track record with Nokia-related news is very good, so this is a story that's being reported far and wide. Of course, the key word in his tweet is 'could.' He's not saying a deal has been struck, just that Microsoft has decided it could spend $19 billion on Nokia.