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Saturday, April 26, 2014

Microsoft and Nokia Complete Mobile Phone Unit Deal Friday April 25,2014


Microsoft has completed its purchase of Nokia's mobile phone business for 5.44bn euros ($7.5bn; £4.5bn)on Friday April 25,2014


The deal between the two firms should have been completed earlier this year but it was delayed by a hold-up in regulatory approvals.

Two Nokia plants will remain outside the deal - a manufacturing unit in Chennai, India, subject to an asset freeze by Indian tax authorities, and the Masan plant in South Korea, which it plans to shut down.

The sale will see the end of production of mobile phones by Nokia.

Nokia will now focus on networks, mapping services and technology development and licences

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