Microsoft confirms that it will buy Nokia mobile division for US$7.2 billionIn what may be a shocking news story breaking today, Nokia is getting out of the phones business with the company signing a deal with Microsoft to sell to Redmond its entire mobile devices division and licensing its patents and mapping technologies for US$7.2 billion. The deal will see the disconnect end between Microsoft Windows Phone 8 and Nokia‘s Lumia brands, and have them come together.
“It’s a bold step into the future – a win-win for employees, shareholders and consumers of both companies. Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services,” Steve Ballmer, Microsoft CEO, said in a statement.
“We are excited and honored to be bringing Nokia’s incredible people, technologies and assets into our Microsoft family. Given our long partnership with Nokia and the many key Nokia leaders that are joining Microsoft, we anticipate a smooth transition and great execution.”
In an investors presentation, Microsoft acknowledged that the deal with Nokia was to accelerate market share growth with Windows Phone – the OS, according to Microsoft, has grown 78% year-on-year and has outsold BlackBerry in 34 markets.
http://techgeek.com.au/2013/09/03/microsoft-confirms-will-buy-nokia-mobile-division-us7-2-billion/
