Tuesday, June 18, 2013

Huawei Open To Buying Nokia

Huawei is looking at ways to grow its business, and acquisitions are one possible avenue it might explore. One company that has made its short list of targets is Nokia. "We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded," said Richard Yu, head of consumer products for Huawei in an interview with the Financial Times. Huawei has faced difficulty finding traction in the U.S. with its telecommunications networking gear business, though its handsets have found space on the shelves of U.S. wireless network operators. Yu did not indicate that Huawei and Nokia are holding formal talks, nor did Nokia comment on Yu's remarks.

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