Nokia's shareholders took a major step on Tuesday to reshape the company, voting overwhelmingly in favor of selling the company's handset business to Microsoft for $7.2 billion, Mark Scott reports.
The approval represents one of the final steps before Microsoft takes control of the struggling cellphone division, which is expected early next year. But it also leaves many questions about what is in store for Nokia, a Finnish company that still lies at the heart of Europe's technology industry.
"It's been a very challenging period," Risto Siilasmaa, Nokia's chairman and interim chief executive, said in a recent interview. "When I became chairman, I didn't think this was going to be a possibility. There have been a lot of emotions."
The handset unit - which sold 64.6 million phones in the third quarter of 2013 - is still one of the world's largest. But it has increasingly lost out to rivals like Samsung and Apple that now dominate the lucrative smartphone market. Read more "
news by November 20, 2013 at 07:50PM
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