Announcement Highlights
- Nokia’s revenues and market share has suffered badly in competition with Apple and Samsung
- Microsoft agrees to buy Nokia’s mobile device division for $7.2B – too cheap in our view
- Included are 32k staff and the right to use associated patents for 10 years
- Nokia’s CEO Stephen Elop will rejoin Microsoft to head up the new division
- Nokia NSN will continue as a network supplier to Service Providers
- Adding devices and services to its software business is part of Microsoft’s reinvention strategy