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Report: Huawei considering 'synergies' in Nokia purchase

updated 06:46 pm EDT, Tue June 18, 2013

Nokia chair notes thoughts on merger to press in London

According to reports, the chairman of Huawei's consumer business group has given some thought to a Nokia acquisition. At the launch of the Ascend P6 smartphone in London, Chairman Richard Yu noted that the topic may have been discussed internally, but there were a lot of factors to consider.

According to the Financial Times of London, Yu said that the company is "considering these sorts of acquisitions; maybe the combination has some synergies, but depends on the willingness of Nokia" and added that as a company "we are open minded." A Nokia spokesperson replied that the company does not respond to market speculation or rumors.

Huawei accounts for four percent of the world's smartphone shipments in 2012, up a half a percentage point from 2011. Nokia's fortunes are falling, with a slip to 4.9 percent in 2012, down from 16 percent in 2011. While Huawei does have a burgeoning smartphone line, it relies primarily on feature phones for market share. Nokia's Windows Phone has supplanted earlier smartphone efforts, to the detriment of the company's market share.



By Electronista Staff
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