Microsoft to buy Nokia's mobile phone business2013-09-03 09:34 by DanielaTags: Microsoft, Nokia
Microsoft announced on Monday that it will acquire Nokia's devices and services unit in a deal worth $7.2 billion. The deal is expected to be finalised in the first quarter of 2014 and is subject to approval by Nokia's shareholders and regulatory approvals. Nokia partnered in 2011 with Microsoft and uses Microsoft's Windows software to run its mobile phones.
Nokia, which will continue as a maker of networking equipment and holder of patents, was once the world's dominant handset manufacturer but was long since overtaken by Apple and Samsung in the highly competitive market for more powerful smartphones. Read more -here-
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