Nokia, once the titan of the mobile industry, has now officially gone under the wings of Microsoft.
While news of the acquisition had been announced way back in September itself, it is only now that the deal has been approved by regulatory agencies.
Microsoft wrote on it’s blog, announcing the news.
Microsoft’s acquisition of Nokia also marks an important milestone for Microsoft: It signifies the software giant’s move to becoming a hardware manufacturer.
“Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation,” said Microsoft CEO Satya Nadella. “Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.”
“As announced previously, Microsoft will not acquire the factory in Masan, South Korea, and the factory in Chennai, India, will stay with Nokia due to the tax liens on Nokia’s assets in India that prevent transfer”, writes Microsoft.
Microsoft coughed up a grand total of around 7.2 billion dollars. Nokia has moved into Microsoft, which means devices from Nokia will be rebranded as “Microsoft Mobile Oy”.
“Microsoft refers to Microsoft Corp. and its affiliates, including Microsoft Mobile Oy, a subsidiary of Microsoft. Microsoft Mobile Oy develops, manufactures and distributes Lumia, Asha and Nokia X mobile phones and other devices.”
Nokia’s devices are primarily Windows Phone, along with a number of feature phones and finally the Nokia X series, which is Nokia’s foray into Android. It is ironic that Microsoft is owning a company which produces phones using a rival OS.