Nokia completes handset business sale to Microsoft

Nokia completes handset business sale to Microsoft

PanARMENIAN.Net - Nokia on Friday, April 25, said the sale of its once-dominant handset business to Microsoft has been closed after the companies agreed to leave two factories in India and Korea out of the deal, according to Reuters.

The company said that it now expected the final sales price to rise slightly above the previously announced 5.44 billion euros ($7.52 billion).

Nokia said that due to an ongoing tax dispute with Indian authorities, it would operate the Chennai factory as a contract manufacturing unit for Microsoft. It also said it will close a plant in Masan, Korea, which about 200 staff.

Nokia added that its board of directors was due to meet early next week in relation to the company's strategy assessment.

A media report earlier on Friday said Nokia would outline its new strategy on Tuesday along with its first-quarter results, and that it would also nominate Rajeev Suri, the head of NSN, as the new group CEO.

 Top stories
You can connect Arduino-powered sensors, and Google is partnering with Exploratorium to offer starter kits to help budding scientists.
The milestone marked the first time Google's Chrome OS moved more units than OS X in the United States, according to research firm IDC.
All three planets had were similar in size to Earth and close enough so their atmospheres can be analyzed with current technology.
Disney’s ABC, ESPN and Disney Channel are expected to be available on the service along with the Fox broadcast network.
Partner news