Microsoft is moving forward with a deal to purchase Nokia's Devices and Services business for $7.2 billion (€5.44 billion).
The Finnish hardware maker's mobile phone division has been struggling since the dawn of the smartphone era, recently reporting a $150 million revenue loss even after surging sales of its Lumia line of Windows Phone 8 smartphones.
For Microsoft, the acquisition is an opportunity to unify its mobile brand. Aside from the HTC 8X, all licensed Windows Phone 8 devices are Nokia-made. So now, instead of seeing Nokia ads for individual devices and Microsoft ads for the mobile operating system, we will likely see combined marketing.
From Microsoft's press release:
Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business, and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash.
[...]Building on the partnership with Nokia announced in February 2011 and the increasing success of Nokia’s Lumia smartphones, Microsoft aims to accelerate the growth of its share and profit in mobile devices through faster innovation, increased synergies, and unified branding and marketing. For Nokia, this transaction is expected to be significantly accretive to earnings, strengthen its financial position, and provide a solid basis for future investment in its continuing businesses.
[...] At closing, approximately 32,000 people are expected to transfer to Microsoft, including 4,700 people in Finland and 18,300 employees directly involved in manufacturing, assembly and packaging of products worldwide. The operations that are planned to be transferred to Microsoft generated an estimated EUR 14.9 billion, or almost 50 percent of Nokia’s net sales for the full year 2012.
Microsoft is acquiring Nokia’s Smart Devices business unit, including the Lumia brand and products. Lumia handsets have won numerous awards and have grown in sales in each of the last three quarters, with sales reaching 7.4 million units in the second quarter of 2013.
By selling its mobile phone division, Nokia is using the opportunity to trim away a profitless part of the company to focus on other, more lucrative areas like its telecommunication and mapping technology.
From Nokia's press release:
Following the transaction, Nokia plans to focus on its three established businesses, each of which is a leader in enabling mobility in its respective market segment: NSN, a leader in network infrastructure and services; HERE, a leader in mapping and location services; and Advanced Technologies, a leader in technology development and licensing. At closing, this transaction is expected to strengthen Nokia's financial position and provide a solid basis for future investment in these three businesses.
The acquisition is expected to close in the first quarter of 2014, allowing Microsoft to speed up the progress of its Windows Phone 8 devices. Retiring Microsoft CEO Steve Ballmer has said that sharing intellectual property rights between the two companies has slowed down development in the past.
With 32,000 new Nokia employees across technology and production teams, Microsoft will have the entire Lumia staff at its disposal.
|scrum break away by al booth|
from Sport competition
|Parking Deck by Olaf R|
from Your City - Parking Garage
|Communication Tech by alberto_b|
|With & without by OBellini|
from Empty - Full
The new store will be located at the Fotografiska center for contemporary photography in Stockhom, Sweden and carry the full range of Hasselblad products.
A recent vacation gave Richard a chance to think about the needs of travel photography – and how our reviews might recognize the perfect travel camera.
Need more evidence that 2017 is the year analog begins its comeback? Well, welcome another new film stock to the world.
The winners of the 10th annual iPhone Photography Awards have been announced, and they're striking.
If you were disappointed by reports that the Sony a9 struggles with adapted Canon glass, you might be able to take some comfort from Metabones' latest update.
Blackmagic Design has dropped the prices of its Video Assist external monitor/recorders for a limited time. Prices of the SD card-based recorders will be reduced in all markets, while supplies last.
Instagram has started testing a new feature called 'favorites' that enables users to share photos with only certain people. Only a small number of users have access to the feature at this time, though it may roll out to everyone in the future.
Lensbaby has announced the Velvet 85 F1.8 for interchangeable lens cameras. The lens is available in Canon, Nikon, Sony E, Sony A, Pentax K, Samsung NX, Fuji X and Micro 4/3 mounts.
It's the end of an era. Parent company Micron has announced that they are discontinuing the Lexar retail brand. This includes 'memory cards, USB flash drives, readers, and storage drives.'
Youthful trainspotter turned adult photographer, John Sanderson has traveled across the United States, documenting the country's railroads. But you won't find any trains in his pictures.
Sony's new CMOS sensor is backside-illuminated and offers an all-pixel global reset function which should drastically reduce rolling shutter effect when panning.
Shoulderpod has converted its offerings into a lego-like modular system by offering all individual parts of existing products separately, allowing users to build exactly the rig they need for a specific project or simply replace a damaged part.
Photographer Felix AAA has spent the past ten years touring the world with a variety of musicians, capturing behind the scenes shots and portraits. He talks about some of his favorite images on the FujiFilm Blog.
A roll of film discovered in an Argus C2 from an Oregon Goodwill turned out to contain some incredible images – and has been re-united with the original owner's family.
Nikon's 28mm F1.4E ED appears to roundly complete the company's updated lineup of fast, professional prime lenses. We've already seen some initial images from a Nikon ambassador, but we've worked through a gallery of our own, with a lens of our own over the past week. Take a look.
Google is holding a competition that could see your Pixel photos gracing millions of screens.
Nikon's 100th birthday party continues worldwide as a distributor in Italy organized a one-of-a-kind feat: assembling the world's largest 'human camera' from over a thousand volunteers.
Ricoh has dropped the price of its Theta SC 360 spherical camera by to $199, a reduction of roughly $50. The camera features two 12MP sensors and can record Full HD video in addition to stills.
Photojournalist Pete Souza served as the presidential photographer for both Ronald Reagan and Barack Obama. In an interview with fellow photographer Marcia Nighswander, he discusses several of his most noteworthy images.
Photographer Michael Wolf has been documenting the crowded conditions of Tokyo's subway trains since the 1990s. The photos have gone viral regularly in the years since he started the project, and he just published the final edition in the series.
The just-launched OnePlus 5 is getting a minor update that should improve camera function.
A Belgian camera shop is showing off an extremely rare, limited 'Rex Edition' Nikon D500. The cosmetic alterations were provided by a customer's German Shepherd Rex, who got ahold of the camera within a day of its purchase.
Adobe says that many of its users have been relying on SkyBox for VR editing and it therefore made sense to make the plug-ins available to all subscribers through Creative Cloud.
The Pictar grip provides a number of customizable physical controls for your iPhone camera, but at its price point we would like to see better materials and build quality.
Peak Design's 'consider every detail' approach shines in the Everyday Backpack. While expensive, it's one of the best options out there for a photographer who needs to pack a lot of stuff in addition to gear.
If you're thinking of using Canon's sports glass on the Sony a9, think again. The ultra-fast camera slows way down when you attach off-brand glass.
The Polish town of Katowice is not famed as an area of beauty, but as all photographers know, that doesn't mean that beauty can't be found if you look in the right places. Mariusz Pietranek used a drone to look down on the colorful sedimentation tanks at an ironworks.
New York Times video journalist Ben Solomon spent a harrowing three weeks accompanying Iraqi Major Sajjad al-Hour as he and his men fought to retake Mosul from I.S. forces.
The 3D VR camera launched through a crowdfunding campaign in 2015 goes on sale beginning June 26.
Noctilucent clouds, a crescent moon and Venus were visible in the pre-dawn sky over Budapest yesterday. Photographer György Soponyai captured NASA's astronomy picture of the day.