Saturday, September 22, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Fujitsu Algorithm Achieves Compresses Images by 1,000-1
Samsung Galaxy J4+ and J6+ Launched in India
Renesas to License Chip IP As It Seeks For New Revenue Sources
Razer Ifrit Packs a Professional Quality Microphone into a Low-profile Broadcast Headset
Micron, Toshiba Chips Found Inside New iPhones
3DMark Adds Ray tracing Benchmark
Adobe to Acquire Marketo for $4.75 Billion
PlayStation Now Adds Downloading of PS4, PS2 Games
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Mobiles > Microso...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, May 18, 2016
Microsoft Is Selling Its Feature Phone Business to Foxconn, Nokia Mobiles Return


Microsoft on Wednesday announced it reached an agreement to sell the company's entry-level feature phone assets to FIH Mobile Ltd., a subsidiary of Hon Hai/Foxconn Technology Group, and Finnish company HMD Global, Oy for $350 million.

And Nokia, which had sold its entire handset business to Microsoft in 2014, said it has signed an exclusive 10-year licensing deal with HMD Global Oy to create Nokia-branded phones and tablets, manufactured by Foxconn's FIH Mobile Ltd.

As part of Microsoft's deal, FIH Mobile Ltd. will also acquire Microsoft Mobile Vietnam - the company's Hanoi, Vietnam, manufacturing facility. Upon close of this deal, approximately 4,500 employees will transfer to, or have the opportunity to join, FIH Mobile Ltd. or HMD Global, Oy, subject to compliance with local law.

The deal will only affect Microsoft's feature phone business, which is currently still using the Nokia brand for basic phones. Microsoft said it would continue to develop Windows 10 Mobile and support Lumia phones such as the Lumia 650, Lumia 950 and Lumia 950 XL, and phones from OEM partners like Acer, Alcatel, HP, Trinity and VAIO.

As part of the deal, Microsoft will transfer substantially all of its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements, subject to compliance with local law. The transaction is expected to close in the second half of 2016, subject to regulatory approvals and other closing conditions.

Nokia, which currently makes most of its sales by telecom network equipment, said on Wednesday it will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights.

"Instead of Nokia returning to manufacturing mobile phones itself, HMD plans to produce mobile phones and tablets that can leverage and grow the value of the Nokia brand in global markets," said Ramzi Haidamus, head of Nokia's patent unit.

Nokia declined to give any timetable for new devices. The deal between Microsoft and HMD is expected to close in the second half of 2016.



Previous
Next
Verbatim Launches 100GB MDISC Blu-ray Storage Media        All News        Hitachi Hard Drives Remain The Most Reliable, Report Found
I/O: The next evolution of Google     Mobiles News      Lenovo Releases The Moto G4, Moto G4 Plus And Moto G Play Smartphones

Get RSS feed Easy Print E-Mail this Message

Related News
Microsoft Announces With New AI, HoloLens Features
Microsoft to Show New Hardware, Software on Oct. 2
Microsoft Changes Windows 10 and 7 Support Periods
Cloud Services Keep Boosting Microsoft's Revenue
Microsoft Could Release New Xbox Hardware Next Month
Walmart to Use Microsoft's Cloud Tech
Microsoft Offers Free Version of Teams, Its Slack Rival
Microsoft Classic IntelliMouse Reborn
Microsoft's Facial Recognition Technology Performs Well Across All Skin Tones, Genders
Microsoft to Buy Bonsai to Build 'Brains' for Autonomous Systems
Microsoft Releases Microsoft News App For Windows 10, iOS and Android
Microsoft Follows Amazon in Checkout-free Retail Technology: report

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .