Microsoft to buy Nokia for $7.2 Billion

Microsoft to buy Nokia for $7.2 Billion:

microsoft to buy Nokia

Finland based Mobile giant Nokia is going to be acquired by Software market leader Microsoft Inc. Nokia once a market leader in mobile handset failed to meet the challenges from competitors like Samsung, Apple etc.

Already Nokia is working with Microsoft in its Lumia series devices which somewhat increased their market share in Smart phone sales.

There is a big expectations in the past itself that Microsoft is trying to buy the Nokia for a huge amount but later the plan is not executed.

But this time the deal is done by both parties and the sale is expected to be done in 1st quarter of 2014.

When Steve Balmer CEO of Microsoft speaks about the deal he said

“It’s a bold step into the future – a win-win for employees, shareholders and consumers of both companies. Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services,” said Steve Ballmer, Microsoft chief executive officer. “In addition to their innovation and strength in phones at all price points, Nokia brings proven capability and talent in critical areas such as hardware design and engineering, supply chain and manufacturing management, and hardware sales, marketing and distribution.”

According to the deal Microsoft is going to pay 5 Billion $ acquire the Nokia services and devices also to pay 2.2 Billion $ for licensing the Nokia's patent and assests.

So the game is on now

Microsoft is now ready to battle itself as both Mobile software developer as well as the Hardware maker.We have to wait and see how this gonna help Microsoft to rise its power in the smart phone market where Apple, Samsung and Google already playing a big role.

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I am Vicky AV, Engineer, Pro Blogger & Twitterati.
I created this blog to post some interesting technical stuff that I feel everyone should know. I hope you find these interesting too. Follow me on Twitter
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