Company Microsoft declared the conclusion of the agreement with FIH Mobile companies and Global HMD on the sale of assets associated with entry-level phones. We are talking about ordinary phones, not smartphones.
For its part, Nokia announced that it signed a strategic licensing agreement with HMD relative to the Global intellectual property and brand, in which Global HMD will be able to create phones and tablets of the new generation under the Nokia brand over the next ten years. At the same HMD Global is a new company located in Finland and founded specifically for independent work on the phones, smartphones and tablets under the Nokia brand.
Microsoft has confirmed that it will continue to develop Windows 10 Mobile and support the Lumia smartphones such as Lumia 650, Lumia 950 and Lumia 950XL, as well as smartphones OEM partners such as Acer, Alcatel, HP, VAIO and Trinity.
We will remind, recently in the network appeared information about the plans of Microsoft to close the unit responsible for mobile phones, and to license the Nokia brand to the Chinese giant Foxconn. And FIH Mobile is a subsidiary of Foxconn Technology Group.
The transaction amount is 350 million US dollars. Under the agreement, FIH Mobile is also going to buy a production unit Microsoft Mobile Vietnam Vietnam Hanoi. When the transaction is completed, about 4,500 employees will have the opportunity to join the FIH Global HMD or Mobile.
Microsoft will transfer all assets associated with entry-level phones, including brand names, software, and services, service network and other assets, including contacts of partners and key supply contracts. It is planned that the transaction will be completed in the second half of 2016 after obtaining necessary approvals from various authorities.