Microsoft has agreed a deal to buy
Nokia's mobile phone business for
5.4bn euros ($7.2bn; £4.6bn).
The purchase is set, according to
BBC, to be completed in early 2014,
when about 32,000 Nokia employees
will transfer to Microsoft.
While Nokia has struggled against
competition from Samsung and
Apple, Microsoft has been criticised
for being slow into the mobile
market.
Describing the deal as a "big, bold
step forward", Microsoft chief
executive Steve Ballmer told the
BBC that his company was in the
process of transforming itself from
one that "was known for software
and PCs, to a company that focuses
on devices and services".
Nokia will also license its patents
and mapping services to Microsoft.
Microsoft has also agreed a 10-year
licensing arrangement with Nokia to
use the Nokia brand on current
mobile phone products.
Now the mobile competition is going to be Hot...
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