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Nokia sale rumours are baseless: Elop

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CIOL Bureau
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LONDON, UK: Rubbishing the rumours that Nokia is planning to sell off its business, CEO Stephen Elop clarified on Thursday that the rumours are baseless.

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Speaking at a conference in London, Stephen Elop said the rumours were "baseless" and the company was not for sale.

Earlier there were speculations that Samsung has shown interest in the Finnish handset maker.

The struggling handset maker's equity value has halved to 17 billion euros ($24.91 billion) since the leak in February of Elop's memo comparing Nokia to a man standing on a burning oil platform. It last traded at 4.28 euros.

It is also being reported that CTO Richard Green is leaving the company as he is unhappy with management decisions, including abandoning plans to launch phones based on the MeeGo operating system. However, Nokia said that he is on medical leave, though it did not clarify as to when he will return.

Nokia is losing smartphone market share to Apple Inc's iPhone and Google Inc's Android devices and, at the low end, to cheaper Asian rivals.

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