The smartphone company, Nokia (NYSE: NOK), handed over its mobile phone business to Microsoft (NYSE: MSFT) on September 3rd, 2013 in exchange of $7.2 billion, including $2.2 billion for licensing the patent for a next 10-year period. As the patent license is non-exclusive, Nokia is, hereby, free to add more patents after the agreement gets confirmed on black and white and becomes a signed deal eventually.
After this deal, Nokia has now three more non-handset divisions that need to be taken care of – the networking equipment unit, navigation and technology patents.
Why did Nokia sell to Microsoft? Continue Reading..