Microsoft swallows Nokia’s phone business for $7.2 billion

by Blogburger on September 3, 2013

File illustration photo shows a woman posing with a Nokia Lumia smartphone in the central Bosnian town of ZenicaBy Ritsuko Ando and Bill Rigby HELSINKI/SEATTLE (Reuters) – Microsoft Corp will buy Nokia's phone business and license its patents for 5.44 billion euros ($ 7.2 billion), a bold foray into mobile devices that also brings potential chief executive contender Stephen Elop back into the fold. Two years after hitching its fate to Microsoft's Windows Phone software, the Finnish phone maker that once dominated the global market collapsed into the arms of the U.S. software giant, its mobile business ravaged by nimbler rivals Apple Inc and Samsung Electronics. …



Business News Headlines – Yahoo! News

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