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Official: Microsoft is selling the Nokia phone business the company Foxconn

Microsoft has signed a deal worth $350 million c FIH Mobile, a subsidiary of the Chinese company Foxconn, the factories which produced the iPhone. According to the agreement, the latter takes control of Microsoft business related to mobile phones under the Nokia brand.

Microsoft reached an agreement on the sale of assets of the company owned units, producing traditional mobile phones, the companies FIH Mobile and Global HMD for $350 million In the framework of this transaction, FIH Mobile will also become Microsoft Mobile Vietnam – production Corporation in Hanoi, Vietnam. After completion of the transaction and subject to local legal requirements staff units at the rate of 4500 employees will transfer to the disposal or will have the opportunity to join the teams FIH Mobile Ltd. or HMD Global Oy.

In Microsoft emphasize that will continue developing Windows 10 Mobile and support phones for Lumia series, including Lumia 650, Lumia 950 and Lumia 950 XL and other devices manufactured by such OEM partners like Acer, Alcatel, HP, VAIO and Trinity.

In the framework of the agreement and in accordance with the local regulations will give Microsoft customers, substantially all of the assets of a unit for the manufacture of traditional mobile phones, including trademarks, software, services, network maintenance, client agreements and contracts for the supply of key components. The transaction is expected to be completed in the second half of 2016, subject to standard closing conditions and receipt of approvals from the regulatory authorities.

Microsoft bought Nokia in 2013 for $7 billion American Corporation only acquired the phone business of the Finnish company. Nokia left maps and telecommunications equipment. In 2015, the company sold map service Here for €2.8 billion to a consortium of Audi, BMW and Daimler.

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