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Nokia Sale Creates Waves
Published on: 2013-09-04
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Microsoft Corp's acquisition of Nokia Corp's mobile business is not likely to introduce a real comeback for the Finnish company in the world's smartphone industry, especially in the Chinese market, where competition is harsh.
 

On Tuesday, Microsoft said it would pay EUR 5.44 billion (USD 7.18 billion) to buy Nokia's mobile phone business and related patents. As part of the deal, Microsoft will bring aboard 32,000 Nokia employees including the company's Chief Executive Officer Stephen Elop.
 

The joint announcement by Microsoft and Nokia has definitely aroused acute interest in China, where Nokia boasts having more than 250 million users. The nation is still Nokia's biggest market and is the world's biggest Windows Phone market.

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