Microsoft acquired Nokia’s devices and services business for a heavy sum of $7.2 billion last year. The Finnish company can no longer use the Nokia brand name on smartphones till Q4 2016, and on feature phones for ten years. Once the biggest smartphone maker in the world failed to catch up with the fast-growing market trends set by Apple and Google. But, as most of us considered, it was not the demise of the titan.
Nokia is planning to bounce back to the smartphone business sometime next year. Reports by online publishing daily Recode suggest that Nokia is gearing to make a comeback in the mobile business, and is [...]
They were once the Titans of the industry. They made more cell phones than all the other companies combined and even now, having shipped around 250 million phones in 2013, they’re the second biggest manufacturer of mobile phones . From 1998 to 2011 this company was the undefeated champion. Nokia was a brand name trusted by all. This Finnish giant now sold its legendary (now struggling) mobile phones unit to the Microsoft Corporation in a $7.2 billion takeover.
As of 25th April 2014, Microsoft’s acquisition of Nokia has been approved by Nokia shareholders and by governmental regulatory agencies around the world. [...]
Microsoft’s Acquisition of Nokia Devices and Services will also result in the end of tenure for Nokia CEO Stephen Elop. After the completion of the deal, CEO Stephen Elop is to step down to become Executive VP of Devices & Services, and should join Microsoft (If he choses to do so).
The shift in rank should minimize any perceived conflict of interest during Elop’s transition: Nokia says.
Chairman of the Board Risto Siilasmaa will assume an interim CEO position while the company looks for a permanent replacement for Elop. Meanwhile, key Nokia executives Jo Harlow, Chris Weber, Juha Putkiranta and Timo Toikkanen are also expected to follow Elop to [...]
