Microsoft is buying Nokia's Mobile Phone Unit for $7.17 Billion
On Tuesday Microsoft said that it would buy Nokia Devices & Service Business for 5.44 billion Euros ($ 7.17 billion). It is announced by Microsoft CEO Steave Ballmer.
We know that there is a big competition in mobile phone market. Nokia is struggling to respond the challenge which is coming from Apple and Samsung. Nokia was dominating the mobile phone market from past 14 years and after that Samsung overtaken it in 2012 as a top selling brand. After this Nokia is struggling to get this mobile market again from Samsung.
In February, 2011 the Chief Executive Stephen Elop warned to the company that it is standing on a burning platform and there is a big need to development for company. Nokia bet it's future on a new project Nokia Lumia, aiming to rival apple's iPhone and Samsung's Galaxy. After Tuesday's announcement Nokia will not known as a independent Mobile Phone manufacturer company.
Steave Ballmer said in Microsft's news site , "We have entered into an agreement to purchase Nokia’s Devices & Services business, which includes their smartphone and mobile phone businesses, their award-winning design team, manufacturing and assembly facilities around the world, and teams devoted to operations, sales, marketing and support."
"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."
Nokia said in a statement it expected that Elop, along with senior executives Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber, would transfer to Microsoft when the deal was concluded. It did not say what roles they would take at Microsoft.
We know that there is a big competition in mobile phone market. Nokia is struggling to respond the challenge which is coming from Apple and Samsung. Nokia was dominating the mobile phone market from past 14 years and after that Samsung overtaken it in 2012 as a top selling brand. After this Nokia is struggling to get this mobile market again from Samsung.
In February, 2011 the Chief Executive Stephen Elop warned to the company that it is standing on a burning platform and there is a big need to development for company. Nokia bet it's future on a new project Nokia Lumia, aiming to rival apple's iPhone and Samsung's Galaxy. After Tuesday's announcement Nokia will not known as a independent Mobile Phone manufacturer company.
Steave Ballmer said in Microsft's news site , "We have entered into an agreement to purchase Nokia’s Devices & Services business, which includes their smartphone and mobile phone businesses, their award-winning design team, manufacturing and assembly facilities around the world, and teams devoted to operations, sales, marketing and support."
"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."
Nokia said in a statement it expected that Elop, along with senior executives Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber, would transfer to Microsoft when the deal was concluded. It did not say what roles they would take at Microsoft.
Microsoft is buying Nokia's Mobile Phone Unit for $7.17 Billion
Reviewed by Ankit Kumar Titoriya
on
06:04
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Reviewed by Ankit Kumar Titoriya
on
06:04
Rating:
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