Microsoft Buying Nokia Handset Biz

    A photo taken on August 15, 2013 shows a Nokia Lumia 925 mobile telephone at the flagship store of Finnish mobile phone manufacturer Nokia in Helsinki. Nokia announced on September 3 the sale of its mobile phone unit to Microsoft for 5.44 billion euros (7.17 billion US dollars), bringing to an end its days as a phone maker. Nokia will grant the US software giant a 10-year non-exclusive licence to its patents and will itself focus on network infrastructure and services, which it called "the best path forward for Nokia and its shareholders."   AFP PHOTO / LEHTIKUVA / MIKKO STIG                - FINLAND OUT -        (Photo credit should read MIKKO STIG/AFP/Getty Images)

    Mikko Stig/AFP/Getty,MIKKO STIG

    In (another) attempt to take a bite out of Apple and Google, Microsoft is buying Nokia’s handset and services business, including a portfolio of patents, for a whopping $7.2 billion. Microsoft and Nokia first partnered in 2011, offering Lumia smartphones with Windows software, but they never succeeded in challenging iPhones and Android devices. Microsoft is expecting to net around 32,000 new employees, a third of its current workforce. While some in the tech world opined that the deal would mean the end of Nokia, investors are clearly pleased: the phone maker’s stock surged early Tuesday.

    Read it at The Verge