Microsoft set to buy Nokia for $8bln
Two of the weakening companies in the smartphone sector are set to join hands as Microsoft is reportedly buying Finnish mobile company Nokia, which has been struggling to keep its market share in the rapidly transforming mobile market with the coming of smartphones.
The deal set at 8 billion dollars will also see Nokia’s CEO Stephen Elop joining the software giant afterwards.
Microsoft’s outgoing CEO Steve Ballmer said that it is a bold step into the future and a win-win situation for the employees, shareholders and consumers of both the companies, The Age reports.