Could Samsung & Microsoft be planning a Nokia takeover?

The two tech giants are reportedly eyeing up the Finnish smartphone maker

Samsung denies a Nokia takeover bid, however, Microsoft is rumoured to be eyeing up the ailing Finnish firm, following a tough fiscal year

Despite them both being identified as potential contenders, Microsoft and Samsung continue in their attempt to quash rumours that they're on the verge of taking over the ailing smartphone maker Nokia.

Samsung, who recently released its flagship Android handset the Galaxy S3, told Reuters that their interests don't include a takeover. Microsoft, on the other hand, is reported to be considering the option.

The rumours come amid a tense year for Nokia, who is facing a lawsuit by disgruntled shareholders following a disappointing Q1 fiscal performance.

Shares in the firm, which was knocked off the top spot as the world's top phone manufacture by Samsung earlier this year, plummeted recently to a fifteen-year low, with a whopping 40 per cent decline in the last three months alone

However, the takeover rumours have shed some light on an otherwise gloomy outlook: Nokia shares rose slightly last week by 6 per cent as a result of the speculation.

Late last year, Nokia diverted their smartphone focus to Microsoft's Windows Phone Line, which introduced the Windows Phone-based Lumia range of smartphones back in 2011.

As this took place, Microsoft were granted access to Nokia's accounts and as gossip multiplied, rumour has it Microsoft was not impressed and bowed out of a deal with Nokia.

Last week, Nokia released its low-cost Asha phone line with three new handsets: the 305, 306 and 311.

Watch our Nokia Lumia 800 vs 900 video (below)

Sources: ITProPortal; Mobot