Nokia completes handset business sale to Microsoft
Helsinki: Nokia on Friday said it has completed the sale of once-dominant handset business to Microsoft after the companies agreed to leave two factories - in India and Korea - out of the deal.The company
Helsinki: Nokia on Friday said it has completed the sale of once-dominant handset business to Microsoft after the companies agreed to leave two factories - in India and Korea - out of the deal.
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. The company also said it will close a plant in Masan, Korea, which about 200 staff.
Earlier, a media report suggested that Nokia would outline its new strategy April 29 along with its first-quarter results, and that it would also nominate Rajeev Suri, the head of NSN, as the new group CEO.
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. The company also said it will close a plant in Masan, Korea, which about 200 staff.
Earlier, a media report suggested that Nokia would outline its new strategy April 29 along with its first-quarter results, and that it would also nominate Rajeev Suri, the head of NSN, as the new group CEO.