Monday, August 8, 2022
Monday, August 8, 2022
Home Business CEO Weekends:Nokia Devices & Services business Are Officially Under Microsoft

CEO Weekends:Nokia Devices & Services business Are Officially Under Microsoft

by Caroline Vutagwa
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It is now a done deal now, Microsoft has officially bought Nokia Devices as well as Services business. The acquisition has been approved by Nokia shareholders and by governmental regulatory agencies around the world.

“Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation,” said Microsoft CEO Satya Nadella. “Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.”

Nokia President and CEO Stephen Elop, will serve as executive vice president of the Microsoft Devices Group, overseeing an expanded devices business that includes Lumia smartphones and tablets, Nokia mobile phones, Xbox hardware, Surface, Perceptive Pixel (PPI) products, and accessories.

As part of the transaction, Microsoft will honor all existing Nokia customer warranties for existing devices, beginning April 25, 2014.

Windows Phone is the fastest-growing ecosystem in the smartphone market, and its portfolio of award-winning devices continues to expand. In the fourth quarter of 2013, according to IDC, Windows Phone reinforced its position as a top three smartphone operating system and was the fastest-growing platform among the leading operating systems with 91 percent annually.

Microsoft will continue to deliver new value and opportunity, and it will work closely with a range of hardware partners, developers, operators, distributors and retailers, providing platforms, tools, applications and services that enable them to make exceptional devices.

As with any multinational agreement of this size, scale and complexity, Microsoft and Nokia have made adjustments to the deal throughout the close preparation process. As announced previously, Microsoft will not acquire the factory in Masan, South Korea, and the factory in Chennai, India, will stay with Nokia due to the tax liens on Nokia’s assets in India that prevent transfer.

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