Building on the partnership with Nokia announced in February 2011 and the increasing success of Nokia’s Lumia smartphones, Microsoft aims to accelerate the growth of its share and profit in mobile devices through faster innovation, increased synergies, and unified branding and marketing. For Nokia, this transaction is expected to be significantly accretive to earnings, strengthen its financial position, and provide a solid basis for future investment in its continuing businesses. “It’s a bold step into the future – a win-win for employees, shareholders and consumers of both companies.
Bringing these great teams together will accelerate Microsoft’s share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services,” said Steve Ballmer, Microsoft chief executive officer. “In addition to their innovation and strength in phones at all price points, Nokia brings proven capability and talent in critical areas such as hardware design and engineering, supply chain and manufacturing management, and hardware sales, marketing and distribution.”The deal will see 32,000 Nokia employees transfer to Microsoft, with Microsoft also acquiring the Lumia and Asha brands while licensing the Nokia brand for continuity with current Nokia-branded hardware. Microsoft will also acquire Nokia's long-term license with Qualcomm for chip technology.
