Going forward, Microsoft (MSFT) will continue reporting the financial performance of five business segments, only they'll look a lot different than its current five (Windows, Office, Server & Tools, Online Services, Entertainment & Devices).
Three of the new segments will fall under Microsoft's "Devices & Consumer" umbrella, and have been labeled Hardware, Licensing, and Other. Hardware covers Surface, Xbox/Xbox Live, and other hardware (presumably includes Nokia). Licensing covers Windows OEM sales, Windows Phone, consumer Office sales, and IP licensing (Android royalties).
Two other segments fall under the "Commercial" umbrella, and have also been named Licensing and Other. Commercial licensing covers enterprise Windows and Office sales, server products (Windows Server, SQL Server, etc.), Dynamics business apps, and Lync. Other commercial covers Azure, enterprise Office 365, and other enterprise services (software support).
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