In its bravest move into the mobile phone market yet, software giant Microsoft is buying Nokia's...
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In its bravest move into the mobile phone market yet, software giant Microsoft is buying Nokia's phone business. It will also take over its services and licence its patents in a deal worth just under five and a half billion euros.
It marks a return to the fold for former Microsoft director Stephen Elop, who left for Finland to run the ailing Nokia, which once dominated the global mobile phone market but has been all-but obliterated in America and Asia under the onslaught of Apple and Samsung.
Nokia remains one of Europe's leading technology brands, and is still the world number two mobile phone maker, but it has missed out on the higher-margin smartphone sector, where it is not even in the top five. It will retain its networks, navigation, and patents portfolio business.
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