Chapter Closed: Microsoft Is Not Buying Nokia!
Bangalore: Microsoft’s plan to buy Nokia’s handset business has fallen flat. The discussions are said to be failed as the Redmond based company was worried by Nokia’s slumping market position and high price tag for buy out, reports The Wall Street Journal.
“We have a deep partnership with Microsoft, and it is not uncommon for Nokia and Microsoft to meet on a regular basis,” a Nokia spokeswoman said. Spokeswoman for Microsoft declined to comment.
It is not yet clear what price did Nokia quote, but the company’s U.S. stock-market is valued more than $14 billion, and it generated nearly half of its about $40.15 billion revenue last year from its mobile-phone segment.
Stephen Elop, Nokia’s CEO chose the alliance with Microsoft instead of Google for powering its Smartphones. Microsoft and Nokia agreed to a broad partnership that made the companies deeply dependent on each other for their mobile future. Nokia agreed to use only Windows Phone software to power its Smartphones. Microsoft agreed to spend billions of dollars to give Nokia help with marketing and engineering. With such a deep partnership, the analysts question whether the acquisition is necessary at all.
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