Huawei says it has no interest in buying Nokia

Huawei says it has no interest in buying Nokia
Refuting a report in Tuesday's Financial Times which said that it would be open-minded to an acquisition of Nokia, Huawei said on Wednesday that it was not interested in a purchase of the Finnish based handset manufacturer. The denial came from Huawei's vice president for external affairs, Bill Plummer, who was responding to a comment made by Richard Yu, the head of Huawei's consumer business.

Yu told the Financial Times that the Chinese based manufacturer was considering an acquisition along the lines of a purchase of Nokia. The executive said that such a purchase has some synergies, but that it would be all up to how willing Nokia would be to enter into such a deal. Being a company rumored to have involvement in espionage, Huawei might talk a good game about acquisitions, but many countries are not going to be open to having a telecommunications firm acquired by a company rumored to have connections with the Chinese government.

Nokia's shares initially soared on Tuesday on word of Yu's comments. The stock at one point traded at $4.12, up from $3.69 on Monday, before closing at $3.86 for a 17 cents, or 4% gain on the day.

source: Reuters

FEATURED VIDEO

34 Comments

1. istitch

Posts: 181; Member since: Mar 19, 2013

i dont think nokia has the interest in selling, even if anyone wanna buy them off

10. KINGJUAN27

Posts: 210; Member since: Jul 02, 2012

And I don't think Huawei can afford buying Nokia! Hahahaa :D

13. jeff1434325

Posts: 97; Member since: Aug 07, 2012

yeah, huawei needs at leat 15 billion $ to buy nokia...and I dont think it has that kind of cash in its pocket.

31. TheLolGuy

Posts: 483; Member since: Mar 05, 2013

Wasn't there an article some time back saying how the Chinese government gave ZTE like... 5 billion or something? I'm not sure if Huawei was included, but I'm sure ZTE was mentioned. So yeah, I'm definitely sure they can have the money to buy Nokia. If Nokia has any pride, they won't let themselves be bought by a company that plays dirty like that.

21. Johnnokia

Posts: 1158; Member since: May 27, 2012

2012 Nokia total assets : $38 Billion 2012 Huawei total assets: $17 Billion How could for a smaller company buy a MUCH larger one?!!. THAT IS IDIOT AND INSANE.

26. Daftama

Posts: 641; Member since: Nov 03, 2012

Hey I dont think your read the book little tug boat and the big tug boat

30. satydesh

Posts: 71; Member since: Nov 22, 2011

very true, even ms hasn't able to purchase it since they have no interest to sell.And i know that fins never give up.they will fight against which ever thing bring them down until they die.So it huawei and android stay away and it is cultural thing!!!

32. akki20892

Posts: 3902; Member since: Feb 04, 2013

told you fake news.

2. EXkurogane

Posts: 863; Member since: Mar 07, 2013

Some chinese company buying Nokia, not gonna happen.

12. _Bone_

Posts: 2155; Member since: Oct 29, 2012

The "some Chinese company" still sold more smartphones last year than Nokia. This is not 2006 bro.

15. EXkurogane

Posts: 863; Member since: Mar 07, 2013

I wasnt viewing at a "number of sales" point of view, but from the product quality point of view. Given the population in China, they dont even have to make their products available in every country to be able to rake in profits.

23. microsoftnokiawin

Posts: 1268; Member since: Mar 30, 2012

besides the fact that nokia is much more than a phone company huawei sells $2 phones Nokia sells $10 phones 5=1 nokia that was just an example i'm not saying that is the case i'm just saying that nokia covers alot of corners while huawei mainly sells low end phones !

3. EXkurogane

Posts: 863; Member since: Mar 07, 2013

If Huawei buys Nokia, Windows Phone will be dead, Microsoft will not allow it. Huawei will make Nokia make lagdroid phones. Not to mention i know Huawei's actual interest - Nokia's technology and patents. Typical of China companies, although a buyout is a legal way to obtain them. P.s. while displaying my hate for China and their products, im a Chinese myself. And countless of my friends and family members have the same sentiment.

4. wendygarett unregistered

lol Huawei buy Nokia because Huawei want "lumia" brand, and lumia is a strong wp brand, in order to surpass HTC and Samsung in wp market... And Huawei will probably remove Nokia name and called it Huawei lumia eos, or Huawei asha etc... That most parent do so... you should learn more on business aspect before you bash bro

6. EXkurogane

Posts: 863; Member since: Mar 07, 2013

Richard Yu said Windows Phone is weak, i doubt he wants Nokia for windows phone purposes. Their android sales outside China isnt great either.

9. wendygarett unregistered

And that's why the articles say no Huawei love to Nokia :)

11. EXkurogane

Posts: 863; Member since: Mar 07, 2013

And that's for the better. I dont want to see one of the pioneers of mobile phones being eaten up by some Chinese company.

34. Alex123

Posts: 241; Member since: Oct 17, 2012

Honestly, i do not like the name and logo design of Huawei. I think that is also part to push volume of sales. Nokia is a popular brand name and well know in the market for long time.

8. TechBizJP08

Posts: 495; Member since: Mar 25, 2013

Well said. I'm thinking if there's one company who's going to buy Nokia, it would be MSFT. IMO,, :)

16. Timmehor

Posts: 599; Member since: Mar 09, 2013

I believe large Chinese smartphone companies are bad for the market. It really devalues the smartphone market's quality and competitive attitude with their cheap, boring, mass produced, off brand phones. Not saying we shouldn't accept new brands entering the market, but for now, all I see from Huawei is a very stupid, boring direction.

20. EXkurogane

Posts: 863; Member since: Mar 07, 2013

Huawei certainly isnt the kind of company that produces dirt cheap knockoffs. But, I dont like the direction businesses in China are heading. Not just smartphones. Name anything you have at home. Anything. And they have a dirt cheap or knock off version of that item. While countless manufactured products improve over time, China makes a downgraded and lower quality version of it. I just dont like their business practices and moral values. There were even news in my local paper here reporting on Parents assaulting exam invigilators who catch their children cheating in university entrance exams. To them, in order to get into tertiary education, using any means necessary including cheating is justified. That's the kind of values adults are teaching their kids in China.

27. -box-

Posts: 3991; Member since: Jan 04, 2012

The Korean and Taiwanese phones so loved by others started in the same position. Same with how Japanese cars did, and, more recently, Korean cars, and now Chinese and Indian cars have the same stigma. Once the quality exceeds the price, or they undercut the "big boys" without any significant sacrifices, they are acceptable to the masses. I'd much rather see a hundred Huawei or ZTE or Oppo phones than a hundred iphones; they're made in the same country after all. That said, I would want to make sure they were all secure, seeing as NSA had some concerns about whether or not China could have done spying capabilities with certain products.

33. Timmehor

Posts: 599; Member since: Mar 09, 2013

I was *just* about to say that! Japanese cars used to be cheap and crappy, now they're great!

5. cameogt

Posts: 88; Member since: Oct 18, 2012

the only thing possible is MS to buy Nokia.

7. Nathan_ingx

Posts: 4769; Member since: Mar 07, 2012

Like Nokia is insisting Huawei to buy them... Not gonna happen!

14. SonyXperiaNexus

Posts: 374; Member since: Oct 01, 2012

hmmm, didnt know Huawei had a sense of humour....

17. Timmehor

Posts: 599; Member since: Mar 09, 2013

If this is their sense of humour, its bad, real bad.

18. jimjacob29

Posts: 6; Member since: May 11, 2013

Before Two days I don't well knew about the huawei but now i know there is a Chinese manufacture called huawei.. I think now every one got the point.. Yes They said about buying Nokia only to get some popularity outside china .. A cheap trick...

22. SonyXperiaNexus

Posts: 374; Member since: Oct 01, 2012

when i first saw the name i pronounced it as "Hawaii" until i saw a commercial. the name sucks badly imho.

19. theminolaboy

Posts: 128; Member since: May 18, 2013

Nokia may be struggling for the past two years but hey Richard Yu, read the news about how Windows Phone and Nokia is keeping up the pace. Your Huawei probably doesnt have the funds to buy Nokia. Loser! Hahaha..

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.