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.
|Waffles with fruits by Coolinarka|
from Food photography (desserts)
|Vestrahorn Frozen Reflection by Will B Milner|
from Ice cold
Google has updated its Photos mobile apps to support the recently announced service for creating and printing physical photo books.
Europeana Photography is a new online image archive that includes more than 2 million historical photographs from European collections in 34 countries, covering the first 100 years of photography. Read more
Manufacturers love to state CRI (color rendering index) numbers to prove that their LED lights will provide great color, but a single CRI score doesn't tell the whole story.
NASA's Juno spacecraft is sending back its first images from Jovean orbit, and they're beautiful. Read more
We got our hands on the first zoom lens available for Fujifim's new digital medium format system. Check out the samples
As summer really gets going over here in the Northern hemisphere, the team at Imaging Resource has put together a list of the best cameras for backpacking.
The Ukrainian Parliament banned statues of Lenin in 2015. Two years later, the monuments no longer adorn public buildings or stand watch over town squares, but they're still there.
If you had to choose one camera to bring along for the ultimate West coast road trip, what would it be? DPR's Sam Spencer choose the X100F. Read more
The a9 boasts impressive capability. As more examples of it in practice pour in, Sony's claims hold up. Watch the a9 track and maintain focus on a rapidly approaching basketball.
Last week, more than a million tonnes of Californian coastline slid into the ocean, taking part of Highway 1 with it. Check out the remodeling in photos taken before and after the landslide.
Even after eighteen months of reviewing the latest, greatest, shiniest and must-buy-me-est new gear, DPReview staffer Carey Rose has continued to use older DSLR cameras for his freelance work. But now, that might be changing. Read more
Sony is the world's leading mirrorless camera brand but remains third for ILCs overall, it's said in a presentation to investors. A focus on high value cameras and lenses should boost operating income, it says. Read more
It's nicknamed the 'Cycloptic Mustard Monster,' and is a 3D printed medium format camera. Read more
The new NanGuang LED lights are battery powered and come with accessories including filters and diffusers.
Have you been telling yourself, "Hey, I really need one of those 8K displays?" A video about Dell's new 8K monitor shows you what to expect. Is it really that much better?
Tamara Lackey, a Nikon ambassador USA and pro shooter, discusses embracing self-consciousness as a means of connecting with subjects.
There's a new Spiderman movie coming out and the poster been generating a lot of online chatter. Mostly about how it looks like the creation of a fevered teenager that just discovered Photoshop.
An honest defense of the system's merits, with photos as proof.
Copyright disputes are no fun at all. 'Binded' is a new startup that aims to simplify the process of registering - and enforcing - copyright for photographers. Read more
Not everyone wants to pay a premium for a long zoom camera. Thankfully, there are many reasonably priced cameras available, though they won't offer the same image quality as enthusiast models. In this updated roundup we look at big zoom cameras with more consumer-friendly price tags. Read more
Think Tank Photo has updated two of its popular bag lines with improvements to functionality. Read more
We’ve all seen Bob Jackson’s Pulitzer Prize winning photo, but there's another.
The sample footage looks good.
It will automatically pick the best camera settings depending on shooting conditions. It even promises enhanced functionality for your camera, like exposure and focus stacking. It already supports many cameras from Canon, Fuji, Nikon and Sony. Read more
As if $13,950 wasn’t enough to pay for a special edition lens, the Leica Store in San Francisco is offering a prototype of said lens for $24,995. Read more
Make those old photos disappear without deleting them forever.
Firmware updates enable 10 fps shooting with adapted A-mount lenses, and faster startup times and better compatibility for 20 fps shooting when using native lenses on the a9.
Fujifilm has released firmware updates for its camera models X-T2, X-Pro2, GFX 50s, X-T20, X100F and X-T1 and updates to three of its software products.
A 22 year-old Romanian photographer uses his DJI Phantom 4 drone to capture unique perspectives of the city where he now lives.
What's it like to ride the waves with champion surfer Kelly Slater? This VR video from Teton Gravity Research gives you a taste.