For all you Nokia users and fans, here’s a new for you all. Finally, the company’s mobile division is now owned by Microsoft.
For all you Nokia users and fans, here’s a new for you all. Finally, the company’s mobile division is now owned by Microsoft.
In one of the press releases, the Finnish company announced that it has successfully completed the deal with Microsoft, offloading the hardware segment to the latter for a price which is little more than 5.44 billion Euros.
Although the exact and final price tag of the deal hasn’t been made public yet, but Nokia has promised to reveal more details pertaining to the deal in the company’s financial results when they are made available to the public in the next few days.
How Exactly Did Microsoft Make the Deal with Nokia
The software giant, Microsoft, has purchased the Services and Devices part of Nokia’s business. However, the Finnish company will carry on being a networking firm and will also carry on to license Here Maps, besides having close ties to Microsoft, post the final deal is made: for example, Nokia is licensing patents to Microsoft.
This deal between Microsoft and Nokia is not a new one. It goes back a long way; back in September 2013 when Microsoft took over the handset division of Nokia. However, the two companies has had close ties even before that as Nokia decided to put in the Microsoft’s Windows Phone software in its smartphone series. In the middle of this transaction, Stephen Elop, the Nokia boss, who was a former employee at Microsoft, is all set to make a move to his former employer pretty soon, now that the deal is officially over.
However, if you feel that all the Nokia employees are as fortunate as Stephen Elop, then you are mistaken. Nokia has already made it pretty clear that the manufacturing plant that they have in Masan, in South Korea, is all set to close down. As and when that happens, 200 employees of that plant will suddenly find themselves without a job. And along with that, the fortune of the employees working in the Chennai plant also hangs in uncertainty as Nokia is yet to decide on its fortune. However, it may all depend on the outcome of a discussion with the Government of India over the taxes.
