Microsoft’s purchase of Nokia’s devices and services business for £4.5 billion has received regulatory approval from the Ministry of Commerce of the People’s Republic of China.
When the acquisition was first announced on September 3, 2013, both parties said it would be subject to regulatory approval. They have now received this from the European Commission, the US Department of Justice and now China.
The deal is still on track to be completed later this month.
Microsoft buyout of Nokia has been delayed by regulatory, but the buyout is still expected to be concluded by the end of April.
Microsoft’s legal chief, Brad Smith, said that the company was awaiting “approval confirmation” in remaining markets, after receiving the go-ahead from 15 other regulators. Those include the US and Europe. Continue reading →
Microsoft has announced it is to buy Nokia’s mobile phone business and services business. The press release from Microsoft details what exactly they will be getting from Nokia in the deal:
“Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business, and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash. Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in the first quarter of 2014, subject to approval by Nokia’s shareholders, regulatory approvals and other closing conditions.” Continue reading →
The report by the research firm Gartner found handset makers sold 435 million mobile phones by the end of the second quarter of the year; 225 million of those purchases were smart phones. Over the same time period last year, feature phone sales fell to 210 million, a decline of 21%.
Nokia has added two new phones to its mobile lineup, bringing social media and instant sharing to more mobile users. The Nokia Asha 205 and 206 were designed by the Finnish company to provide speedy Internet at affordable prices, as well as integrated social networking. The Asha 205, with a full QWERTY keyboard, is expected to start shipping in the fourth quarter in the US, with a price tag of $62, so expect a price point around the £40 – £50 mark when it hits the UK. The device comes in cyan, magenta and orange. Continue reading →
Microsoft officially launched the long-awaited next generation version of its mobile operating system yesterday, stepping up the fight against Google and Apple.
Windows Phone 8 introduces new features such as “Rooms” where updates can be shared with a select group of contacts and the innovative “Kid’s Corner” option which gives children access to certain games and apps without exposing the rest of the handset. Continue reading →