Microsoft sells its Nokia brand

Microsoft sells its Nokia brand

An event that most people thought impossible has just occurred – Microsoft, which acquired the famous Nokia brand a few years ago, has sold this same brand to the Chinese smartphone manufacturer Foxconn.

The purchase of Nokia by Microsoft was widely publicized in late 2013 when the US software giant purchased the Finnish telecommunications company for USD 7 billion but nearly three years later Microsoft has not scored any successes with the Nokia brand, so this is likely the reason why the US software company gets rid of it. So, starting now Foxconn has become the owner of Microsoft’s smartphone business as well as of the Nokia brand. The sale price is around USD 350 million, which is peanuts compared to the 7 billion dollars Microsoft paid 2.5 years ago. In addition to this Foxconn acquires the Microsoft Mobile Vietnam factory, which manufactures smartphones. The 4500 people who work there will not be laid off – instead they will work for Foxconn. The deal is to be officially finished in H2 2016.

Foxconn promises it will invest 500 million US dollars in the Nokia brand in the next three years so the famous brand may be back with fanfares in the near future. Only time will tell, though.

Source: Microsoft

Related posts

AMD Phenom II X6 processor and 890FX chipset available

AMD announced the immediate availability of the AMD Phenom™ II X6 processor and AMD 890FX chipset ushering in a new era of immersive 3D entertainment and visualization. Trailblazing consumers seeking immersive 3D entertainment and high definition multi-monitor display now can affordably upgrade...

LG announced Viewty Smart (LG-GC900)

LG Electronics (LG), a global leader and technology innovator in mobile communications, announced Viewty Smart (LG-GC900), a brand new camera phone with an Intelligent Shot Mode that makes it easy to take great pictures by automatically analyzing scenes and adjusting camera settings accordingly...

MSI Unveils Slim Metro Style X400 notebook

MSI' latest X-Slim X400 14" ultra-slim notebook based on Intel's new ultra low-voltage CULV platform is so slim it is thickness never exceeds one ich. When the battery is included, the notebook weighs just 1.5kg yet delivers long run times. The X400 produces very little noise and heat during its...

Leave a comment