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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Nokia... Will give up.

Nokia... Will give up.

3 posters

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1Nokia... Will give up. Empty Nokia... Will give up. Tue Sep 03, 2013 8:12 pm

sandunj


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Nokia to sell phone unit to Microsoft for 5.44 bn euros
03 Sep, 2013 12:01:25
HELSINKI, September 3, 2013 (AFP) - Beleaguered Finnish mobile phone maker Nokia will sell its mobile phone unit to US group Microsoft for 5.44 billion euros ($7.17 billion), it said on Tuesday.

Nokia will grant Microsoft a 10-year non-exclusive licence to its patents and will itself focus on network infrastructure and services, which it called "the best path forward for Nokia and its shareholders."
The company also announced the immediate departure of chief executive Stephen Elop. He will be replaced in the interim by Risto Siilasmaa, Nokia's chairman of the board.

Nokia was long the global leader in making mobile phones but has been overtaken by rivals Samsung and Apple as it struggled to establish winning business models and mobile devices.

The transaction announced Tuesday is expected to be completed in the first quarter of 2014, pending approval by Nokia shareholders and regulatory authorities.

Some 32,000 Nokia employees are expected to transfer to Microsoft, including approximately 4,700 people in Finland, the company said.

The operations affected by the transfer generated approximately 14.9 billion euros in 2012, or almost 50 percent of Nokia's net sales, the company said.

Of the total purchase price of 5.44 billion euros, 3.79 billion relates to the purchase of Nokia's Devices & Services business, and 1.65 billion relates to the mutual patent agreement and future option.

Last month, Nokia finalised the purchase of German engineering giant Siemens' 50 percent stake in Nokia Siemens Networks for 1.7 billion euros.

NSN, which is specialised in high-speed mobile broadband, was set up as a joint venture between the two companies in 2007, a partnership that expired in April. The unit has posted stronger earnings than Nokia's mobile phone business.
NSN posted a net profit of 8.0 million euros in the second quarter of this year, compared to Nokia's net loss of 227 million euros in the same period.

2Nokia... Will give up. Empty Re: Nokia... Will give up. Tue Sep 03, 2013 9:10 pm

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Thanks for the article.

Nokia is still using old symbian mobile OS and its rare to find nokia phones with windows OS as they announced they give up investing on Symbion.

However, effort didn't become successful, its market share came down and nokia company was shifted to third place suddenly by the heavy competition made by Samsung. Samsung achieved 1st place with the introducing of Samsung Galaxy S series.
Its extreme features attracted users, specially Android OS is used in them. Symbian OS have very limited facilities when compared to Android.
Recently Nokia introduced few new smart phones but they are not in a quality which can compete Samsung. Now all planes have collapsed.

3Nokia... Will give up. Empty Re: Nokia... Will give up. Wed Sep 04, 2013 2:02 am

sriranga

sriranga
Co-Admin

Nokia... Will give up. Nokia10
Source: Evening Standard.co.uk

http://sharemarket-srilanka.blogspot.co.uk/

4Nokia... Will give up. Empty Re: Nokia... Will give up. Wed Sep 04, 2013 9:10 am

sandunj


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

sriranga wrote:
Nokia... Will give up. Nokia10
Source: Evening Standard.co.uk
Thanks Sri...

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