Nokia announced that Microsoft has acquired its Devices & Services business. The deal was announced inÂ last year September. Nokia’s mobile business is now a Microsoft subsidiary which is called Microsoft Mobile, Nokia has completed the deal for sale of his handset business to big giant the Microsoft; it has kept Chennai manufacturing plant, out of the deal. The Finnish handset maker has done this deal in 5.44 billion euros (about USD 7.2 billion).
Former Nokia president and CEO Stephen Elop will remain as executive vice-president of Microsoft Devices Group and he will report to Mr. Nadella. Microsoft will acquire 25,000 Nokia employees worldwide and will transfer to Microsoft and the Nokia headquarters in Espoo is ruled over by the US giant.
Customer warranties will be honored by Microsoft from the beginning of April 25. The New nokia will focus on networks services and technology development and licenses. Nokia will give another announcement on April 29 for further details of the transaction.
Chines regalities approved the Nokia-Microsoft deal earlier this month. It can go ahead without the transfer of Chennai factory due to tax dispute. Industry-watchers look this deal as it could give Nokia a new life.