Nokia's mobile phone operations have finally been officially transferred to Microsoft, ending a legacy for the mobile phone giant that saw it go from market leader to market obscurity.
At Nokia’s former headquarters outside Helsinki, a crane was on standby to remove the Nokia sign, under which a large blue and white banner read “Nokia moving on”.
Nokia’s former chief executive Stephen Elop will transfer BACK to Microsoft where he will oversee Microsoft’s hardware business ranging from mobile devices to Xbox video game consoles. Microsoft will continue to honour all existing Nokia customer warranties.
In addition to Mr. Elop, some 25,000 former Nokia employees will join Microsoft. Microsoft will use this acquisition to improve its chances in the mobile-phone business, to have one more roll of the dice against Apple, Google and Samsung.
So what's left of Nokia? A mobile network arm and a digital mapping platform, one of the mobile industry’s largest portfolios of patents and a large pile of cash. Nokia is expected to announce its new strategic direction, plans for its cash management and name its next CEO next week in conjunction with its earnings report due on Tuesday.