Microsoft acquired Nokia handset business
The US software giant, Microsoft completed acquisition of Nokia’s mobile handset business excluding the Nokia’s Chennai factory.
Microsoft, the US software giant on 25 April 2014 completed acquisition of Nokia’s mobile handset business, excluding the Nokia’s Chennai factory from the over 7.2 billion US dollar deal due to tax issues.
This exclusion of the Finnish firm’s largest manufacturing facilities of Chennai plant will continue to operate under Nokia, on a service contract for Microsoft. The firms Chennai factory was started in 2006 and the Nokia’s India operations began in 1995.
In September 2013, the Finnish handset maker Nokia agreed to sell all of its Devices and Services (D&S) business to Microsoft.
Nokia’s Chennai plant
Nokia’s Chennai plant employs about 8000 workers, which is equivalent to about a third of Nokia’s 25000 staffs who are being transferred to Microsoft although they will remain on the rolls of the Finnish firm.