Chinese networking and telecommunications equipment provider Huawei Technologies Co Ltd will examine the possibility of acquiring Finnish mobile phone maker Nokia Oyj (HEL:NOK1V), the Financial Times reported, citing Richard Yu, chairman of Huawei’s consumer business group, as saying.
Yu made the comment ahead of the introduction of the company’s latest premium smartphone, the Ascend P6, in London. According to him, a possible purchase would enable Huawei to become the world’s top smartphone maker, but a deal would depend on Nokia.
Yu also stated that he expects a further consolidation in the smartphone market that would result in only three or four players.
Huawei is currently considered to be the third biggest manufacturer of smartphones in terms of volume after Samsung Electronics Co Ltd (KRX:005930) and Apple Inc (NASDAQ:AAPL). It seeks to exceed its internal sales objectives of 55m to 60m smartphones in 2013, Yu added.