"Our Windows Phone partnership over the past two and half years has yielded incredible work — the stunning Lumia 1020 is a great example. Our partnership has also yielded incredible growth. In fact, Nokia Windows Phones are the fastest-growing phones in the smartphone market."
In a recent announcement Microsoft announced that it's going to buy Nokia's mobile phone division for a whopping amount of €5.44 billion (£4.6 billion/ $7.2 billion) and licensing its patents, expanding itself in the smartphone market and challenging brands like Samsung and Apple.
"It's a bold step into the future—a win-win for employees, shareholders, and consumers of both companies" shared Ballmer who further also added "Bringing these great teams together will accelerate Microsoft's share and profits in phones, and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services."
The Finnish company, Nokia partnered with Microsoft in 2011 and has since been using its Windows OS to run its mobile phones. This partnership has produced a wide range of phones, including the Lumia 920 and the Lumia 1020.
However, both Nokia, a once upon a time leader of the mobile phone market and Microsoft have been struggling hard to capture the smartphone market.
The deal is expected to be finalized in the first quarter of 2014 and is subject to approval by Nokia's shareholders and regulators. As a part of the deal Nokia's CEO Stephen Elop would return back to Microsoft as the VP of the 'device' team.
Nokia in 2010 hired Elop from Microsoft. Apart from him, senior executives Jo Harlow, Juha Putkiranta, Timo Toikkanen and Chris Weber, would also be transfer to Microsoft.
Well, this is one great news and it surely raises our expectations higher from Microsoft. Let's see what's going to happen after this deal is finalized in 2014.
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