Microsoft Buy Nokia’s Mobile Handset Business For $7.2 Billion

/ 5 years ago


The BBC reports that the deal between Nokia and Microsoft has been finalised. The deal sees Microsoft buy Nokia’s mobile handset business for $7.2 billion. As part of the deal Nokia will license its patents and mapping services to Microsoft. The deal will happen in early 2014 when 32,000 Nokia employees will jump ship to Microsoft. Nokia shares rose 45% after announcing the deal. The transaction is subject to approval by Nokia shareholders and regulators but is very likely to be approved.

Interestingly Nokia’s Stephen Elop will stop down as president and chief executive of the Nokia corporation and resign from the company’s board. He is expected to “transfer to Microsoft at the anticipated closing” of the deal. Many have speculated that Stephen Elop will become the new CEO of Microsoft and replace Steve Ballmer.With the mobile handset business gone Nokia says it will focus on three key businesses – network equipment manufacturing, mapping and location services, and the development and licensing of technology.

Image courtesy of

Topics: , , , , , ,


By supporting eTeknix, you help us grow. And continue to bring you the latest news, reviews, and competitions. Follow us on Facebook and Twitter to keep up with the latest technology. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!
eTeknix FacebookeTeknix TwittereTeknix Instagram

Check out our Latest Video


One Response to “Microsoft Buy Nokia’s Mobile Handset Business For $7.2 Billion”
  1. Wayne says:

    The end of Nokia as we know them, the makers of some of the finest and most popular handsets in the past.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

  • Be Social with eTeknix

  • Poll

    Do you like RGB?

    View Results