Nokia-Microsoft phone deal complete
Nokia has completed the €5.44bn sale of its mobile phone and services division to Microsoft.
The closure of the deal, which includes a licence to a portfolio of Nokia patents, follows delays in global regulatory approvals, including from China.
The sale ends the production of all Nokia mobile phones by the former world leader, which has lost in the lucrative smartphone race against Samsung, Apple’s iPhone and cheaper manufacturers in Asia.
The Finnish company will focus on networks, mapping services and technology development and licences.
It is expected to unveil future plans when it releases first-quarter earnings on April 29 – the last report to include the ailing devices and services division.
