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Microsoft ends Nokia chapter

2016-05-25 17:39 by

 

It's official - Microsoft has lost the mobile battle. The giant is shuttering the last major pieces of its Nokia business.

Last week, the remaining feature phone portion of the business was sold off to Foxconn Group subsidiary, FIH Mobile, for $350 million. 1,850 jobs will be cut as well.

"We are focusing our phone efforts where we have differentiation — with enterprises that value security, manageability and our Continuum capability, and consumers who value the same," says Microsoft CEO Satya Nadella in a statement. "We will continue to innovate across devices and on our cloud services across all mobile platforms."

Microsoft bought Nokia back in 2014. In the past two years, the company has laid off a massive number of employees, most of whom were related to its phone business and Nokia specifically. Microsoft also took a $7.6 billion hit, roughly the cost of the Nokia deal.

Read more -here-

 

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