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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Microsoft To Acquire Nokia's Mobile Phone Business For $7.17B 0 comments
    Sep 3, 2013 10:11 AM | about stocks: MSFT, NOK

    Originally published at

    In a deal valued at $7.17B, Microsoft (NASDAQ:MSFT) has announced its plans to purchase Nokia's (NYSE: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.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: MSFT, NOK
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