Microsoft acquires Nokia’s mobile phone unit

FOR SALE. Nokia sells its mobile unit. File photo by AFP

Nokia announced it is selling its mobile phone unit to Microsoft for 5.44 billion euros or US$7.2 billion on Tuesday, September 3. Nokia will grant Microsoft a 10-year non-exclusive licence to its patents and will itself focus on network infrastructure and services, which it called “the best path forward for Nokia and its shareholders.” Microsoft and Nokia already joined forces about two years ago in an alliance aimed at making inroads with handsets powered by Windows Phone software. The deal is expected to close in the first quarter of 2014.

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