Microsoft admits Nokia acquisition was a bad deal

Barely a year after Microsoft paid $9.5 billion for Nokia’s handset unit, the company says it has lost $7.6 billion of that value. That’s equal to about 95 percent of what Microsoft paid for the assets, excluding the cash that came with them. Along with a hefty writedown, Microsoft plans to cut as many as 7,800 jobs, many of them related to the purchase of the Finnish mobile phone maker. Reports Bloomberg “I am committed to our first-party devices including phones,” Satya Nadella, Microsoft’s current CEO, wrote in an email to employees about the moves.…

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Microsoft Targets Cheaper Phones for Global Internet Growth


Microsoft Corp. (MSFT), under new Chief Executive Officer Satya Nadella, will accelerate a push into mobile software, joining forces with hardware manufacturers and Qualcomm (QCOM) Inc. to develop cheaper phones for emerging markets. Microsoft said yesterday it’s working with Qualcomm on a low-cost phone design that developers and handset makers can use to build their own devices, and added partners including Lenovo Group Ltd. to make Windows smartphones. Nokia Oyj (NOK1V), whose mobile-phone business will become part of Microsoft, unveiled lower-priced handsets at the Mobile World Congress in Barcelona today.…

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Satya Nadella Is Officially Microsoft’s New CEO

Microsoft has made official what we all pretty much expected: Its new CEO, replacing Steve Ballmer, is Satya Nadella. Nadella has spent 22 years at Microsoft, and was previously Microsoft’s Executive Vice President of Cloud and Enterprise. Nadella also takes a position on Microsoft’s Board of Directors. Nadella is credited with being a key leader in moving the company towards cloud services, around products including Bing, Xbox and Microsoft Office. His time at MS oversaw a period of huge growth for Microsoft Business Services, too, growing that segment of the…

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