End of An Era – Microsoft Buys Nokia for 7.2 Billion
In what many have speculated for a long time now, Microsoft has purchased mobile manufacturer and developer of Symbian OS, Nokia. Ballmer, the current CEO of Microsoft, who has recently announced his retirement, has announced that Microsoft will be acquiring Nokia. The current CEO of Nokia, Stephen Elop, will make his return to Microsoft following the acquisition. If all goes well and gets the green light, the merge will happen in the first quarter of 2014.
Although many of the details surrounded the deal has yet to be released, the statement from the company in Remond, Microsoft, details the reasoning for the purchase is to triple the sales of Windows Phone by 2018. Here is what we know so far:
- Microsoft will acquire Nokia in early 2014 for 7.2 Billion (3.79 Billion Euros for Nokia and 1.65 for Patents)
- Although Microsoft is buying Nokia, a hardware manufacturer, Microsoft still claims it is committed to its other hardware partners
- Although Stephen Elop will return to Microsoft Devices department once the deal is completed, there is no mention of him replacing Ballmer once he leaves in a years time.
- Nokia brand is no more – no more Nokia branded phones will be produced.