360° Coverage : Mixed reactions over Nokia-Microsoft deal

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Mixed reactions over Nokia-Microsoft deal
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Mixed reactions over Nokia-Microsoft deal

Sep 4 2013, 7:48am CDT | by IANS

Helsinki, Sep 4 (IANS) Finland, base and origin of mobile giant Nokia, was shrouded in a mixed atmosphere filled with hope, watch, doubt and despair after news of the company's deal with Microsoft.

Helsinki, Sep 4 — Finland, base and origin of mobile giant Nokia, was shrouded in a mixed atmosphere filled with hope, watch, doubt and despair after news of the company's deal with Microsoft. Early...

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1 year ago

Mixed reactions over Nokia-Microsoft deal

Sep 4 2013, 7:48am CDT | by IANS

Helsinki, Sep 4 (IANS) Finland, base and origin of mobile giant Nokia, was shrouded in a mixed atmosphere filled with hope, watch, doubt and despair after news of the company's deal with Microsoft.

Helsinki, Sep 4 — Finland, base and origin of mobile giant Nokia, was shrouded in a mixed atmosphere filled with hope, watch, doubt and despair after news of the company's deal with Microsoft.

Early Tuesday morning, Nokia announced the merger in a press release on its website, and triggered quick follow-up reports from media.

It agreed to sell the devices and services business at a price of 3.79 billion euros, and license its patents for 1.65 billion euros. The company will then focus on infrastructure, mapping and licensing, reports Xinhua.

While some believe the total amount of 5.44 billion euros, or about $7.2 billion, was acceptable considering the shrinkage of Nokia phones' market share, others argued it was a notably low price.

Nearly two years back, Microsoft acquired internet communication company Skype at a higher cost of $8.5 billion.

The stock market reacted positively. Soon after the opening of Helsinki Stock Exchange Tuesday morning, Nokia's share price surged by 47 percent from 2.96 euros to 4.33 euros.

"After a thorough assessment of how to maximize shareholder value ... we believe this transaction is the best path forward for Nokia and its shareholders," said Risto Siilasmaa, who chairs Nokia board of directors and will become interim CEO after the transaction.

"Mobile business remains the only sector suffering losses, and now all the burden is on the part of Microsoft," said a former project manager of Nokia on condition of anonymity.

It seems to be necessary to integrate hardware and software, now that Google and Apple are leading the market by doing so, he added.

According to the press release, Nokia's headquarters will remain in Espoo and all the 4,700 Finnish workers will continue to work here.

None of the Nokia staff member commented on the transaction.

"They are not sure about their own future," said a public servant who gave her name as Anna. "There was a time when many schools and a lot of majors were oriented toward Nokia, and people were educated to work for it," she added, apparently worried about the lack of diversity in the country's ICT industry.

Finnish Prime Minister Jyrki Katainen said the news confirmed the notion that Finland is undergoing a drastic transition period. However, he admitted that "Nokia links to emotion. Every Finn has experienced Nokia".

"End of an era" was the title of a news report by Yle, the Finnish broadcasting company. Recalling Nokia's rocky road of recovery, the article said the transaction marked the culmination of a recovery programme spearheaded by CEO Stephen Elop.

The Canadian and former Microsoft leadership member was recruited by Nokia in 2010 to rescue the company from downfall.

Reports said Elop will return to Microsft after the transaction, to be implemented in first quarter of 2014. He was widely believed to have a great potential to succeed Microsoft's outgoing CEO Steve Ballmer.

Numerous analyses emerged on Tuesday, giving hope of better future for Lumia phones, Windows Phone system, financial status of Nokia and entrepreneurship in Finland.

In this nordic country, where about 2 percent of GDP once came from Nokia, people evidently could not help from being dismayed.

"I have two Nokia phones. I am used to the logic. But what shall I use in the future? A Sumsung? An Apple? I really don't know," Anna murmured.

IANS

Source: IANS

 
Update
6

7 weeks ago

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Oct 29 2014 2:12pm CDT | Source: Business Insider

Another round of layoffs hit Microsoft employees on Wednesday as part of the company's massive 18,000 layoff announced in July. About 3,000 employees were let go, reports ZD Net's Mary Jo Foley. Microsoft company confirmed the layoffs to us with this statement: “We've taken another step that will complete almost all the 18,000 reductions announced in July. The reductions happening today are spread across ma ...
Source: Business Insider   Full article at: Business Insider
 

 
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Source: Tampa Bay Business Journal   Full article at: Tampa Bay Business Journal
 

 
Update
4

8 weeks ago

Microsoft's PR Boss Had A Funny Response To Google's Big News (MSFT, GOOG)

Oct 24 2014 5:51pm CDT | Source: Business Insider

Google dropped some big news to employees Friday. Sundar Pichai, the executive in charge of Android and Chrome, got a promotion that makes him the boss of all of Google's core products: search, Google+, apps, advertising, Android, Chrome, and so on. The news of Pichai's promotion leaked late in the afternoon when Re/code's Kara Swisher and Liz Gannes obtained an internal memo to Google employees announcing his new role. One Google rival, Microsoft's PR bos ...
Source: Business Insider   Full article at: Business Insider
 

 
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3

8 weeks ago

Android Circuit: Samsung's Perfect Powerhouse, Microsoft's Next Android Step, Moto G Is The Number One Smartphone

Oct 24 2014 5:42pm CDT | Source: Forbes Real Time

This week’s Android Circuit highlights a number of stories including the new Galaxy S5 Plus, the 'number one' Moto G, US Government approves Samsung's Knox, Microsoft's Android Launcher, Nokia's HERE Maps in a wide-ranging beta release, the Nexus Player and Chromecast, Android Wear up ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
2

8 weeks ago

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Oct 23 2014 8:01pm CDT | Source: BetaNews

For anyone who was under the impression that Surface was a failure for Microsoft need look no further than the latest earnings release for proof that they're wrong. In the quarter ending September 30, Microsoft pulled in $23.20 billion in revenue, and $908 million of this came from the Surface division. All told, FY15 Q1 represents record first quarter revenue for Microsoft, and it can be at least partly attributed to the influence of Satya Nadella, as well ...
Source: BetaNews   Full article at: BetaNews
 

 
Update
1

8 weeks ago

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Oct 23 2014 3:34pm CDT | Source: Canadian Business Online

SAN FRANCISCO – Microsoft’s latest earnings report shows CEO Satya Nadella is making progress in his push to embrace cloud computing. The company said Thursday that revenue from cloud services, including software delivered over the Internet, more than doubled in the last quarter. That helped lift quarterly profit and revenue above expectations. The tech giant still makes most of its money from selling traditional software for businesses and home ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
 

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