Why Did Microsoft Take Over Nokia?
Cut to - the end of 2013, Microsoft announces the acquisition of all Nokia phone operations for more than 5B euros. It was Microsoft's move to take part in the mobile market after having underestimated it and focused mainly only on its PC business. It was an ambitious bet and a bigger challenge for Microsoft.
In September 2013, Microsoft announced its acquisition of Nokia's devices and services businesses, which closed with the formation of a Finnish subsidiary, Microsoft Mobile. On smartphones, the Nokia name was phased out in favour of Microsoft branding on future Lumia products.
Microsoft Mobile - Wikipedia
In 2016, Microsoft sold the Nokia smartphone business for $350 million to a subsidiary of Hon Hai/Foxconn Technology Group and HMD Global, led by former Nokia and Microsoft mobile executives. HMD has an exclusive license to use the Nokia brand on mobile phones and tablets.
Microsoft and Nokia reunite for new alliance, 5 years after ...
In 2013, Microsoft paid over $7 billion for Nokia's handset business in an ill-fated attempt to provide a third alternative to iPhone and Android handsets with Windows Phone. It failed miserably, with the purchased assets from Nokia written off in 2015, resulting in thousands of job losses.
Microsoft In The Frame To Buy Nokia (Again), Analysts Forecast
On 3 September 2013, Microsoft CEO Steve Ballmer announced that Microsoft would acquire Nokia's mobile phone division for $7.2 billion. Microsoft had been looking for a way to enter the mobile phone industry to better compete with Apple and Google.
Case Study of a Failed M&A— Introduction to Microsoft's ...