Stephen Elop, Nokia's new chief executive, has termed rumors of Microsoft or Samsung acquiring the company as baseless, a report said.

All those rumors are baseless, he said at the Open Mobile Summit in London. The company isn't for sale, he insisted.

Speculation regarding the sale of the company heightened when Nokia decided to work with Microsoft Windows Phone’s operating system instead of their own. After the company’s revenue plunged recently, the propositions of an acquisition became more evident.

Recent rumors were also ignited by the fact that Nokia with its Symbian platform was not enough to give Google’s Android and Apple’s iOS a tough competition, and Nokia’s MeeGo OS required expensive hardware that was not affordable.

According to rumors, Samsung and Microsoft were the most probable buyers, CNET said.