Microsoft Buys Nokia's Device Business

Microsoft announced Monday night that it has acquired the device and services business of Nokia, the former mobile phone colossus and its major partner in the Windows Phone business.

According to Reuters, the deal is for $7.2 billion. Multiple media reports speculate that Nokia's CEO, Stephen Elop, will become a candidate to succeed Steve Ballmer as CEO of Microsoft. Elop will become head of Microsoft's mobile devices business.

Nokia will retain its networking equipment business and retain patents.

To continue reading, tell us a little about yourself.

Don't worry! As long as you use the same browser and don't delete your cookies for the next six months, you won’t need to fill it out again.