Microsoft looks set to drop Nokia name from smartphones
Reuters
Published Oct 22, 2014 03:43PM ET
Microsoft looks set to drop Nokia name from smartphones
SEATTLE (Reuters) - Microsoft Corp (O:MSFT) looks set to ditch the Nokia name from its Lumia range of smartphones just months after buying the Finnish company's handset business.
According to a post on Nokia France's Facebook page on Tuesday, the page will change its name to Microsoft Lumia "in the coming days."
Microsoft declined comment.
Under the terms of the $7.2 billion deal, which was struck in September 2013 and completed in April, Microsoft acquired Nokia's handset business, though not the name of the company itself.
Finland's Nokia (HE:NOK1V) continues as a networks, mapping and technology licensing company. It owns and manages the Nokia brand and only licenses it to Microsoft.
Microsoft has said in the past it plans to license the Nokia brand for its lower-end mobile phones for 10 years and to use the name on its smartphones only for a "limited" time, without saying how long that might be.
New Microsoft Chief Executive Officer Satya Nadella has begun to reduce the scale of its phone-making operations. Of the 18,000 job cuts he announced in July, about 12,500 came from the unit acquired from Nokia.
(Reporting by Bill Rigby; Editing by Alan Crosby and Paul Simao)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.