Nokia, the world's top mobile phone maker, is not interested in buying the wireless e-mail device maker Research In Motion Ltd., a top Nokia executive told daily Helsingin Sanomat.
When asked whether Nokia could buy RIM to get better access to the potentially lucrative mobile e-mail market, Mary McDowell, head of Nokia's Enterprise Solutions unit, said: "No. Most of their income comes from devices for which we can well develop similar products ourselves."
Shares in Ontario-based RIM, which helped to popularize mobile e-mailing with its thumb-operated BlackBerry, have risen on several occasions this year on expectations of a takeover bid, with Nokia touted as one potential buyer. Nokia, which boasts of one of the strongest balance sheets in the world of high tech, had 12.6 billion euros ($15.13 billion) in cash and other liquid assets at end-March.
The Finnish mobile phone giant has been reluctant to use its cash or stock to fund large deals, preferring to invest heavily in research and development of new products while making occasional small technology acquisitions.
However, Nokia's Chief Financial Officer Rick Simonson told the Reuters Technology Summit earlier this year the firm would be prepared to take on more risk to finance potential mergers. ($1=.8330 Euro) Source