Home / Channel / Microsoft to spend $7.17B US on Nokia handset division

Microsoft to spend $7.17B US on Nokia handset division

Nokia have announced that they are selling ‘substantially all of its Devices & Services business and license its patents to Microsoft’. The $7.17 billion deal will be finalised in Q1 2014 subject to approval by Nokia shareholders and regulatory approvals. The two companies already work very closely in the mobile sector.

nokia-microsoft
Risto Siilasmaa (left) set to become Nokia’s interim CEO, with Steve Ballmer and Stephen Elop (Photo: Nokia)

The deal means that 32,000 Nokia employees will move to Microsoft alongside Nokia’s CEO Stephen Elop and other top executives. Rumour has it that Elop is a prime option to replace Microsoft CEO Steve Ballmer when he retires within the next year.

Nokia used to be one of the major mobile players, but have struggled in recent years, losing marketshare to Apple and Android partners.

Kitguru says: A good move for both companies?

Become a Patron!

Check Also

Intel 11th Gen. Tiger Lake – benchmarks!

Intel is deeply excited about their imminent 11th Gen. Tiger Lake mobile CPU which is due to go on sale at the end of September. We know this because Intel sent us a sample of Tiger Lake in an MSI laptop so we could take a good look for ourselves and also share the benchmark results with our KitGuru audience.