Samsung Electronics is interested in acquiring Finnish telecommunications equipment maker Nokia’s mobile network assets, according to a news report.

Citing unnamed sources, Bloomberg reported on Aug. 29 (local time) that Nokia’s mobile network assets have attracted much attention from several companies, including Samsung Electronics.

Nokia has struggled for years to compete with larger players like Huawei in the telecommunications equipment industry. The Finnish cell phone giant has been mulling whether to sell its mobile network business division to find new growth drivers.

Nokia is reportedly considering various scenarios from selling off part or all of the mobile network business division to spinning it off or marrying it with a competitor.

The total deal may hit up to US$10 billion, the sources said.

Samsung has previously expressed interest in acquiring some of Nokia’s assets for its wireless network business, which connects mobile devices such as smartphones with telecommunications infrastructure.

Nokia’s mobile network business division supplies base stations, wireless technology and servers to wireless carriers around the world. It is the largest segment, accounting for about 44 percent of Nokia’s total revenue last year, according to Bloomberg estimates. But the division has been struggling, especially in Europe, as carriers have put off costly network upgrades.

Once the world’s top handset vendor, Nokia eventually sold off its cellphone business due to Apple and Samsung Electronics and has since focused on making telecom network equipment, including equipment that carries signals to mobile devices.

However, in response to the report of a possible sale, Nokia said in a Finnish stock exchange filing that it had nothing to announce regarding the speculation in the article and was carrying no relevant internal projects.

Source: Businesskorea