Microsoft Made $250M in 'Platform Support Payments' to Nokia
Nokia's most recent quarterly results show that Microsoft paid the company $250 million for adopting Microsoft's Windows Phone 7 platform. "Our broad strategic agreement with Microsoft includes platform support payments from Microsoft to us as well as software royalty payments from us to Microsoft," said Nokia. "We have a competitive software royalty structure, which includes minimum software royalty commitments. Over the life of the agreement, both the platform support payments and the minimum software royalty commitments are expected to measure in the billions of U.S. dollars." Nokia reported that it has sold more than one million Lumia smartphones to-date, but it recorded a loss for the quarter of $1.4 billion.
Microsoft Wallet Gains Tap-to-Pay Functionality
Microsoft today updated its Microsoft Wallet app and gave Lumia smartphone owners the ability to make mobile payments at supporting retailers. Windows Mobile has long included a Wallet app, but until today it was reserved for loyalty cards and other retail programs.
Nokia Pins Smartphone Comeback on HMD Global
Nokia today said it plans to return to the smartphone business during the first half of 2017 through its partnership with HMD Global. HMD Global recently completed a series of transactions between HMD, FIH Mobile Limited, and Microsoft that will allow it to make phones bearing the Nokia brand.
Microsoft May Give Windows 10 Mobile Payments
Microsoft is weighing what to do with the mobile wallet app that's part of the Windows 10 Mobile platform. The operating system already has a basic wallet app (since Windows Phone 8) for storing credit card and loyalty card data, but it stops short of making mobile payments.
New Nokia Phones One Step Closer to Reality
HMD Global has hired a former Nokia executive to help kickstart its phone ambitions. HMD Global is a Finnish company that licensed the Nokia name with the intent of making Nokia-branded smartphones.