In sudden news, which was expected anyways, Microsoft buys Nokia’s phone sector for $7.2 Billion. The company announced that the deal will complete in the first quart of 2014 due to some agreements from the contributors and some other agreements between Microsoft and Nokia. This deal will include the phones sector in Nokia in addition to around 32,000 employees and around 4700 of them are in Finland only! but with these employees and unfortunately Steven A. the previous Nokia’s CEO will not be with them and Risto Siilasmaa will be the CEO now who is shaking hands in the picture above.
Nokia had a big loses during the past few years and especially after the smartphones such as iPhone and Android devices since 2007 which caused the 150 old company to be sold to Microsoft for $7.2 Billions. Even after it’s sold, Nokia will still a leading company in phones all around the world especially after it’s recent smartphones such as Lumia 920 which works on Windows Phone which competes with Apple’s,Samsung’s, HTC’s, and Blackberry’s smartphones which is making a good sales around 20,000 phone a day around the world.
After announcing these news, Nokia’s stock jumped around 39% to become around 5.4$ and it was before that deal around 3.9$ only. knowing that Nokia’s intial stock price was around 1.5$ and it reached 58.5$ in 2000 and maybe this step will bring more revenue to Microsoft and Nokia as well!