Samsung Electronics refutes report it may buy RIM

Refuting a recent report, by the Boy Genius Report (BGR) tech blog, that Samsung Electronics was apparently interested in buying BlackBerry-maker Research in Motion (RIM), the South Korean tech biggie said in a Wednesday statement that it has "never" mulled over a RIM acquisition.

In a telephonic clarification, Samsung's Seoul-based spokesman James Chung said that neither has there been any contact between Samsung and Ontario, Canada-based RIM nor has Samsung shown any interest in striking a licensing deal with RIM for using its software.

Chung said: "We haven't considered acquiring the firm and are not interested in (buying RIM)."

With Samsung denying any plans at all for buying the currently-struggling RIM, the shares of RIM plunged again, after having witnessed a rise on over 10 percent following the BGR report of the company's takeover by Samsung.

RIM, which once rode high on its avant-garde smartphone technology especially for corporate users, has been struggling of late with product delays and profit warnings; with the lingering of the company's stock valuation at multi-year lows prompting continuous speculations of its possible acquisition.

Incessant rumors about the likelihood of RIM's sale having apparently been stemming from the fact that the plunge in the prices of the company's shares - which witnessed a 75 percent fall in 2011 as the company lost market share to Apple and Android- device makers - had prompted investment firm Jaguar Financial to call for RIM to shuffle its management, split into separate entities, and look for a buyer!