Microsoft to Pay $7 Billion in Deal for Nokia Phone Business
September 3, 2013
Microsoft is paying $7.17 billion in a deal to acquire Nokia’s devices-and-services business and license its mapping services. By purchasing Nokia’s core cellphone business, Microsoft is hoping to better compete with Apple, Google and Samsung in the fast-growing mobile business. The move follows the announcement of Steve Ballmer’s planned retirement as Microsoft CEO. Several Nokia executives will transition to Microsoft as part of the deal and could become contenders for Ballmer’s position. Continue reading Microsoft to Pay $7 Billion in Deal for Nokia Phone Business