Buy Nokia? Surely you jest, Lenovo exec says
After rumors surfaced that Lenovo was considering acquiring Nokia, the PC maker made it clear that isn't the case.
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.
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,before the company denied those plans. .
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.