But there’s other suitors possibly in the wings
Shares in Finnish phone maker Nokia soared by as much as 14 per cent yesterday [August 1st 2012] amid rumours it might be sold to Chinese electronics giant Lenovo. Though Lenovo quickly played down the rumours, with one executive describing them “a joke”. Nokia shares still fluctuated wildly before closing up 2.5 per cent.Lenovo, as China’s second-largest smartphone manufacturer, has already surpassed Nokia in terms of sales. But as a possible suitor it may not be the only one.
As Nokia’s share price has collapsed in recent years due to competition from the likes of the Apple’s iPhone and Android devices, there has similarly been speculation it is ripe for a takeover from companies such as Microsoft whose Windows Phone 7 (W7 Mango) OS runs on its Lumina phone range.