Originally published at www.seclive.com
In a deal valued at $7.17B, Microsoft (MSFT) has announced its plans to purchase Nokia's (NOK) mobile business that includes the Lumia smartphone brand. Along with the mobile device business is another development that analysts are closely watching, which is the future of Nokia CEO Stephen Elop. Elop was formerly the head of Microsoft's business software division before moving to Nokia in 2010 and is being discussed as a possible replacement to Microsoft's retiring CEO Steve Ballmer. In recent years Nokia has seen a steady decline in its market share, shrinking from 40% of the handset market in 2007, to now 15%. Microsoft's move to purchase the Nokia mobile line will likely complicate matters regarding Windows Phone arrangements with other makers such as HTC, who now assume that Nokia will become the flagship brand with Windows Phone.
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