REDMOND, Washington/ESPOO, Finland — Microsoft and Nokia announced today in separate press releases that Microsoft has officially acquired Nokia’s Devices and Services unit. The acquisition has been approved by Nokia shareholders and by government regulatory agencies worldwide.
Microsoft CEO Satya Nadella:
“Today we welcome the Nokia Devices and Services business to our family. The mobile capabilities and assets they bring will advance our transformation. Together with our partners, we remain focused on delivering innovation more rapidly in our mobile-first, cloud-first world.”
Former Nokia President and CEO will become executive vice president of Microsoft’s Device Group, overseeing Nokia’s Lumia smartphones and tablets, as well as its other devices, Xbox, Surface, Perceptive Pixel products and accessories. Microsoft will honor all existing Nokia customer warranties for existing devices starting today.
With the Nokia mobile phone business, Microsoft will target the affordable mobile devices market, a $50 billion annual opportunity to deliver the “first mobile experience to the next billion people.”
Microsoft will not acquire Nokia’s factories in Masan, South Korea and Chennai, India as previously announced, but will welcome 25,000 transferring employees from around the world.