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Samsung Confirms Rumors of a Nokia Buyout Are ‘Purely Speculative’, ‘Not True’

by Killian Bell | June 11, 2012June 11, 2012 8:30 am PDT

Samsung Galaxy S III - Unpacked Event - 2012 - 02

Late last week, a wild rumor that suggested Samsung was gearing up to purchase rival smartphone vendor Nokia began circling the web. We had our suspicions that someone, somewhere along the line, was pulling our leg. And today the Korean electronics giant has confirmed in a short statement to Reuters that the reports are “purely speculative” and “not true.”

Despite no truth in the rumors, Nokia would have been hoping for Samsung to remain quiet. The Finnish firm’s shares rose 6% last Friday following the speculation. But they have subsequently dropped again now that Samsung has clarified its intentions.

There was no evidence to back up the original report, but it did say that Samsung’s acquisition was all about Nokia’s patents. With patents such a hot property right now, what with almost every tech giant involved in a patent dispute of some sort, it didn’t seem entirely impossible that the buyout was part of Samsung’s plans.

But again, we had a feeling this one was going nowhere.

[via The Next Web]

Killian Bell

Killian Bell is a 20-something technology journalist based in a tiny town in England. He has an obsession with that little company in Cupertino...