Nokia Shareholders Approve Microsoft Buyout
Nokia's shareholders today approved Microsoft's proposed acquisition of the company's handset business, according to the Financial Times. About 80% of Nokia's shareholders sided with management in favoring the deal, which will see Nokia's phone-making unit sold to Microsoft for $7.2 billion. Microsoft believes the deal will strengthen the footing of its Windows Phone platform. Nokia's Lumia-branded smartphones represent the lion's share of Windows Phones sold throughout the world. Nokia will still hold onto its networking business. Nokia CEO Stephen Elop is expected to run the new hardware division from Microsoft's headquarters in Redmond. The deal still needs to meet regulatory approval.
Microsoft Makes Branding Change Official
Microsoft today indicated its branding transition from Nokia Lumia to Microsoft Lumia is progressing as planned. Microsoft has slowly been rebranding apps, services, and web sites from Nokia to Microsoft.
Nokia Will Design and License Phones Beginning In 2016
Nokia CEO Rajeev Suri said the company will tackle the mobile phone industry again once its non-compete clause with Microsoft expires next year. Nokia no longer owns any manufacturing facilities and will not make its own phones.
Nokia and Samsung Settle Patent Licensing Deal
Nokia today said it has reached an agreement with Samsung over the licensing of its wireless patents. The companies have been disputing the value of Nokia's patents since Nokia sold its handset division to Microsoft.
Microsoft's Jo Harlow to Depart, Too
Microsoft has confirmed that Jo Harlow, head of the company's mobile phones, will leave alongside device chief Stephen Elop in the weeks ahead. Harlow began at Nokia in 2003 and played a role in Nokia's switch to Windows Phone in 2011.
Its a Shame
As for making money, they still have to compete ...