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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

India TV News Desk [ Updated: April 26, 2014 18:02 IST ]
nokia completes handset business sale to microsoft
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 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.

 

 





 

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