Nokia denies Microsoft takeover rumours

Nokia has refuted speculation that it is to be bought by Microsoft, according to reports.

Nokia

The two companies formed a strategic alliance earlier this year, which kick-started a series of rumours that the partnership would lead to a Microsoft takeover.

The tie-up was made so the companies could pool resources and gave Nokia a timely boost to its smartphone provision, which was waning in the face of stiff competition from Google and Apple.

As part of the deal, Nokia switched from its Symbian operating system to Microsoft’s Window’s Phone 7 operating system for its smartphones.

However, Nokia’s CEO Stephen Elop has reportedly branded speculation of a Microsoft takeover as “baseless”, speaking at US D9 conference.

Last week, Nokia revealed a 15% drop in shares, with the Finnish company admitting it’s unlikely to make a profit this quarter for the first time in nearly a decade.

Nokia’s profit fell 35% quarter on quarter to €704m (£620.8m) during Q1 as it continued to struggle in the smartphone market.

This story first appeared on New Media Age. For more digital stories and analysis’ from NMA click here now

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here