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Nokia says handset business sale to Microsoft completed

25
Apr
2014

Nokia on Friday said the sale of its once-dominant handset business to Microsoft has been closed after the companies agreed to leave two factories in India and Korea out of the deal. Nokia said that due to an ongoing tax dispute with Indian authorities, it would operate the Chennai factory as a contract manufacturing unit for Microsoft. Nokia added its board of directors was due to meet early next week in relation to the companys strategy assessment. A media report earlier on Friday said Nokia would outline its new strategy on Tuesday along with its first-quarter results, and that it would also nominate Rajeev Suri, the head of NSN, as the new group CEO.

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