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Microsoft Officially own Nokia Mobile Department

25 April, 2014 Nokia

Microsoft Nokia Deal

 

It's a Done Deal... Nokia has just announced the completion of the sale to Microsoft of all of its Devices & Services business to Microsoft. Substantially since two factories were excluded from the deal the Chennai factory in India, but also the Masan factory in South Korea. The deal underwent other changes too the final price is expected to be slightly higher than the initially announced €5.44 billion due to a positive adjustment in net working capital and cash earnings.


The South Korean factory employed roughly 200 people, but Nokia will be closing it down. The fate of the Chennai factory is unclear, but Nokia will be offering financial assistance to its employees so they can "explore opportunities outside Nokia starting from a sound financial base".

 

What's Next for Nokia ? we will see in the Net few weeks.


Source (Nokia)

 


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