Reports have come out today that Nokia Corp. (NYSE:NOK) will get billions from Microsoft (NASDAQ:MSFT) in return for adopting Windows Phone 7 as the platform for company smartphones.
While Nokia is strong at this time in the lower-end smartphone market, they've lagged behind key competitors Apple Inc. (NASDAQ:AAPL) and Google Inc. (NASDAQ:GOOG) in the higher end smartphone market. The deal with Microsoft is to change that situation.
For Microsoft, as usual with these types of deals, it will receive royalties from Nokia for the use of their software.
Nokia CEO Stephen Elop released the information on the billions Nokia would receive after shares of the company plunged after the expected announcement they were partnering with Microsoft.
Nokia was trading at $8.90, down $0.46, or 4.97 percent, as of 11:43 AM EST. Microsoft was trading at $27.18, falling $0.07, or 0.26 percent, as of 11:44 AM EST.
Monday, February 14, 2011
Nokia (NYSE:NOK) Getting Billions for Using Microsoft's (NASDAQ:MSFT) Windows Phone 7
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2 comments:
Tipping point?
A deal with Microsoft is now seen as toxic.
Surprising that MS is now being negatively impacted, unless the failure of WP7 is already priced-in.
***not** impacted.
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