There was a time when the Finnish Mobile manufacturer, Nokia ruled the glory of days with 110 Billion Euro in the Market, but these days have left long back.
Today, we hear it with a bit of surprise that, the American multinational software corporation, Microsoft buys the company with it's service business, license of patents and mapping services for a shockingly low price as 5.5 Billion Euros.
Even though the company had finally came back to the game with their Lumia line-up of Windows Phone devices like the 520 from the last Spring, which had literately brought back the company in business. The Lumia 520 and its sibling devices like the 620, 720, 920, 925, 928 has gained a substantial momentum in North America by T-Mobile and AT&T carriers and in South East-Asia. The Asha line-up of devices had also gained a surprisingly high profit in the year of 2012, but after an year, the budget-priced Android phones had took the market away from Nokia in Asia and Africa.
Nokia's CEO Stephen Elop had decided to work with Microsoft and quit all other operating systems from the company, where the company sold about 25 Million devices per quarter, back in 2011. And today, Elop has decided to sell of the Finnish company to the American software corporation, Microsoft for a noticeably low price.
Source: Forbes
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