Nokia: No plans to re-enter smartphone business

0
977

Nokia has straightaway denied rumors of making a re-entry into the smartphone business.

“Nokia notes recent news reports claiming the company communicated an intention to manufacture consumer handsets out of a R&D facility in China. These reports are false,” Nokia said in a statement posted on its website.

“Nokia reiterates it currently has no plans to manufacture or sell consumer handsets.”

Nokia sold its handset business to Microsoft in 2013 for $7.2 billion. As part of the acquisition deal, the Redmond has barred Nokia from selling smartphones until the end of 2015, and licensing mobile phone technology until the end of 2016.

However, the Finland-based communications technology company has said it is planning to re-enter the smartphones business by way of brand-licensing.

Recently, Nokia agreed to buy French telecom equipment maker Alcatel-Lucent in an all-stock deal valued at 15.6 billion euros (USD 16.6 billion). The deal is expected to get finalized in the first half of 2016.