Samsung Electronics is recently rumored to acquire Nokia’s handset division that caused the stock of Nokia rise by 6%. The big electronics manufacturer from South Korea has finally spoken up about the rumor. Samsung said that the rumor is not true. The representative / spokesperson of Samsung gave the clarification and has been quoted by Bloomberg. Samsung was rumored ready to buy Nokia at a price of 18.7 Billion USD.
The competition in the smartphone market is very tight, which make many speculations. Samsung is not only the market leader in smartphone industry. Samsung also has surpassed Nokia as the biggest phone manufacturer in the world. In the business world, such rumor can occur because there is a specific agenda of the speculators. Samsung via email also denied that the company was attracted to Nokia since last year and even prepared to make an offer.