Microsoft completes its acquisition of Nokia

As previously reported, today marks the mean solar day when Nokia and Microsoft ceased being two parties with similar goals evolved around Windows Phone. Both companies have fired out press releases detailing the finalization of the deal seeing Microsoft absorb the telephone business from Nokia.

From today, Nokia volition exist formed of HERE, Nokia Solutions & Networks, likewise every bit further developments. The handset side of Nokia volition at present be part of Microsoft. Nokia's Devices and Services unit has been sold to Microsoft for €5.44 billion (US$seven.3 billion) and volition exist renamed as Microsoft Mobile Oy. Stephen Elop, pictured above with Microsoft CEO Satya Nadella, will move to Microsoft to atomic number 82 the hardware division.

Check out the Microsoft printing release below.

Source: Microsoft, Nokia

Microsoft Corp. announced it has completed its acquisition of the Nokia Devices and Services business.

The acquisition has been approved by Nokia shareholders and by governmental regulatory agencies around the world. The completion of the acquisition marks the kickoff step in bringing these two organizations together as one squad.

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

Reporting to Nadella is former Nokia President and CEO Stephen Elop, who volition serve as executive vice president of the Microsoft Devices Group, overseeing an expanded devices business concern that includes Lumia smartphones and tablets, Nokia mobile phones, Xbox hardware, Surface, Perceptive Pixel (PPI) products, and accessories. Microsoft welcomes personnel with deep industry experience in more than 130 sites across 50 countries worldwide, including several factories that blueprint, develop, industry, marketplace and sell a broad portfolio of innovative smart devices, mobile phones and services. As part of the transaction, Microsoft will accolade all existing Nokia customer warranties for existing devices, commencement Apr 25, 2022.

Windows Phone is the fastest-growing ecosystem in the smartphone market, and its portfolio of accolade-winning devices continues to expand. In the 4th quarter of 2022, according to IDC, Windows Phone reinforced its position every bit a pinnacle three smartphone operating system and was the fastest-growing platform among the leading operating systems with 91 percentage yr-over-year gain.1 Furthermore, with the Nokia mobile phone business, Microsoft will target the affordable mobile devices market, a $50 billion annual opportunity,2 delivering the first mobile experience to the next billion people while introducing Microsoft services to new customers around the world.

Microsoft will go along to evangelize 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 brand exceptional devices. With a deeper understanding of hardware and software working as 1, the company will strengthen and grow demand for Windows devices overall.

Every bit with whatever multinational agreement of this size, calibration and complication, Microsoft and Nokia have made adjustments to the deal throughout the close grooming process. Equally appear previously, Microsoft will not larn the factory in Masan, Republic of korea, and the factory in Chennai, Republic of india, will stay with Nokia due to the tax liens on Nokia's assets in India that prevent transfer. Every bit a consequence, Microsoft volition welcome approximately 25,000 transferring employees from around the world.

More data about Microsoft'south expanded family of devices and services is bachelor here.

Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Microsoft refers to Microsoft Corp. and its affiliates, including Microsoft Mobile Oy, a subsidiary of Microsoft. Microsoft Mobile Oy develops, manufactures and distributes Lumia, Asha and Nokia 10 mobile phones and other devices.

For further information regarding risks and uncertainties associated with Microsoft'south business concern, please refer to the "Management'south Give-and-take and Analysis of Financial Status and Results of Operations" and "Take a chance Factors" sections of Microsoft's SEC filings, including, but not limited to, its almanac report on Class 10-K and quarterly reports on Form 10-Q, copies of which may be obtained past contacting Microsoft's Investor Relations department at (800) 285-7772 or at Microsoft's Investor Relations website.

All information in this release is as of April 25, 2022. The company undertakes no duty to update any forrard-looking argument to conform the statement to actual results or changes in the visitor's expectations.

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Source: https://www.windowscentral.com/microsoft-nokia-complete-acquisition-deal

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