NOKIA CORPORATION SOLD PHONE UNITS TO MICROSOFT FOR $7.5bn

Last Updated: April 26, 2014
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NOKIA which has produced many phones and widely known all over the world is now owned by Microsoft.
Nokia has announced the completion of the $
7 .5 bn sale of its troubled mobile phone and services division to US- based Microsoft , ending a chapter in the former world leading phone maker 's history that began with
paper making in 1865.
The Friday closure of the deal , which includes a license to a portfolio of Nokia patents , follows
delays in global regulatory approvals and ends the production of mobile phones by the Finnish
company, which had led the field for more than a decade, peaking with a 40 -percent global market share in 2008.
Nokia said the total transaction price would be "slightly higher" than when it was originally
announced on September 3 because of adjustments made for net working capital and
cash earnings .
The deal was to have closed during the first quarter but was held up because of delays in approvals , including from China, the AP news
agency reported.
YESTERDAY Nokia finally sells phone units to Microsoft.
For the next few months, anyone will still be able to buy a Nokia phone, but eventually that
brand will disappear off the stands in phone stores, as Microsoft begins to release phones
in their own name. In the smartphones segment, the Lumia brand will probably continue to exist. But the name Nokia will
fade.
What is your opinion on this? Can Microsoft continue as more better than Nokia?

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Ogunrinola Adam Hiidee is an Enthusiast Tech. Blogger and a Civil Engineering student. I like surfing through the Internet and gains a lot from this by increasing my knowledge. You can connect with me and I would love to have you connected.

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