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Microsoft completes acquisition of Nokia mobile phones

in International Business

Microsoft completes acquisition of Nokia mobile phones

microsoft-NokiaMicrosoft closed on its approximately USD 7.5bn acquisition of Nokia’s hardware operations on Friday.

The deal will mark the end of production of mobile phones by Nokia, which is the world’s No. 2 seller of mobile phones in the world, behind Samsung. However, the vast majority of those are not smartphones.

“Today we welcome the Nokia devices and services business to our family,” BBC News quotes Microsoft chief executive Satya Nadella.

“The mobile capabilities and assets they bring will advance our transformation.”

The Finnish company will now focus on networks, mapping services and technology development and licenses.

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