It’s A Deal! Nokia Devices And Services Have Been Sold To Microsoft For USD 7.53 Billion

The news is out around the Nokia and Microsoft arrangement. The Finnish mobile giant has released a statement that says Microsoft is the new owner of Nokia Device and Services division. Nokia has got USD 7.53 Billion for deal after final adjustments. This is a bit higher than the original agreed upon price, which was decided in September 2013.

The Indian plant of Nokia in Chennai has not exchanged hands as there is a current asset freeze imposed by the Indian tax authorities. The plant will continue to stay with Nokia, but will produce mobile devices for Microsoft.

The Korean Masan facility of Nokia was excluded from the transaction and Nokia will go ahead and close the plant which employs around 200 people.

The release issued by Nokia also says “As previously announced, the following Nokia leaders have stepped down from the Nokia Leadership Team and transferred to Microsoft at closing, effective April 25, 2014: Stephen Elop, Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber. Until further notice, Nokia's interim governance model announced on September 3, 2013 is in place.”