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Chinese Huawei eyes Finnish firm Nokia

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Finnish company could opt for Chinese rescue soon

Chinese smartphone giant Huawei is “considering” buying Nokia, but it all depends on whether or not the ailing Finnish phone maker finally cracks.  Huawei would consider snapping up Nokia, which could help it boost its smartphone gains in Europe and the US, according to a company executive.

Richard Yu, chairman of Huawei’s consumer business group, said at the launch of its latest smartphone offering, the Ascend P6, in London: “We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia.”  “We are open minded,” Yu told reporters.


Nokia would have to be a willing participant in a buyout discussion, but its remains mum on whether or not it’s even in discussions with Huawei, or any other company for that matter. A Nokia spokesperson said the company “does not comment on market speculation.”

Or, should Huawei consider a hostile takeover, it could go straight to Nokia shareholders, who are said to be willing to take the offer and run while the Finnish phone maker is still afloat.

Currently, Huawei has a burgeoning base of users in China, taking the third slot in the Chinese volume shipment space behind Samsung and Apple, but it wants to move away from feature phones into the smartphone space.

And no better candidate than ailing smartphone maker Nokia, which has its range of high-quality Lumia smartphones that just aren’t selling as well as they could be.

It comes after at least a year of speculation on who might buy Nokia; from Intel to Microsoft and even Lenovo at one point. Shares in Nokia rose by as much as 11% on the news.

Comments (2)Add Comment
great news for nokia
written by James Le, June 30, 2013
Is it shameful to let your enemy becoming your best friend when you are financially in trouble? If Nokia is willingly switching to Android in this year, I am sure Nokia will be fine and possible clinching back to #1 :-)
written by jams123, June 11, 2014
Email that this action seems to be driven by government deficit financing as the financial year draws to a close.

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