On Wednesday, an online report from Wall Street Journal stated that the acquisition discussions between Microsoft Corp and Nokia ended with no chances of getting revived. The said discussion was about Microsoft's planned acquisition of the Finnish phone maker's device unit. Huawei was also reported by Financial Times to have intended plans to acquire Nokia. However, the latter denied and stated no plans to buy the Finnish phone maker's units.

The Journal reported that early talks took place earlier this month citing sources who were familiar with the matter but were left unnamed. The deal did not push through due to prices and Nokia's loss of market share to growing Asian competitors said on the report.

Microsoft has been working to transform itself to becoming a device and services company.

A representative from Microsoft declined to give any statement. A spokesperson from Nokia also refused to comment.

In a deal that transpired two years ago, Nokia signed an agreement to exclusively use Microsoft Windows Phone software.