Wednesday, 18 May 2016
Microsoft has announced that it’s selling its feature phone business for $350 million in a group deal to FIH Mobile, a subsidiary of Chinese hardware manufacturer Foxconn, which manufactures iPhones for Apple, and a newly formed company called HMD Global. The deal includes Microsoft’s entry-level mobile device assets and the Nokia brand name, as well as its manufacturing facility in Hanoi, Vietnam. The transaction is expected to be finalized in the second half of this year. When it is complete, HMD will be able to sell Nokia-branded feature phones as well as Android-based smartphones and tablets. The new firm plans to invest more than…
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