Despite reports to the contrary, Samsung is not interested in a buyout of struggling Research in Motion; the Canadian company that makes BlackBerry devices.
It was reported earlier this week that the Korean company was interested in a complete takeover of the Ontario-based business with a price between $12 billion and $15 billion being touted. This led to a surge in RIM's share price, closing at $17.47 on Wall Street on Tuesday; an 8 per cent increase.
However, despite Jim Balsillie, co-CEO of the BlackBerry company, apparently "going hard after Samsung" in terms of a sale, the Galaxy smartphone maker has retorted, saying it is not eyeing up a deal. "We haven't considered acquiring the firm and are not interested in (buying RIM)," Samsung spokesman James Chung told Reuters.
Earlier this month it was suggested that RIM would be open to licensing its BlackBerry software, or selling parts of the company to ease its financial woes. BlackBerry Messenger is an incredibly popular platform, for example, and could be just what a company like Samsung or HTC needs to aid their quest for Android supremacy.
But with Samsung essentially ruling itself out, more pressure will be piled on to Balsillie and Mike Lazaridis, the co-chief executives. The management duo have indicated in the past that they are not looking for a sale though, and want to turn the company's fortunes around instead.
RIM has seen its share price fall by over 75 per cent in the last year following a number of underwhelming product launches and, what the Financial Times describes as, "a series of management missteps and earnings shortfalls".
Amazon, HTC and Nokia have also all been linked with a possible takeover as well.