independent

Sunday 20 April 2014

Nokia hangs up as it sells its handset business

Nokia launched its tablet later in 2013 after a deal saw it sell its handset business
Nokia launched its tablet later in 2013 after a deal saw it sell its handset business

Once the biggest-selling global mobile phone handset maker, Nokia hung up on the segment in September.

 It agreed to sell its handset business and licence its patents to Microsoft in a €5.4bn deal. Nokia will continue to make mobile network equipment, but its exit from the handset segment showed just how dynamic the industry has been over the past decade.

Having failed to successfully challenge rivals such as Apple and Samsung, Nokia was continually on the back foot. In the last two years, it had notched up losses totalling over €5bn. Following the sale to Microsoft, it meant that three of the pioneers of the mobile phone industry -- Nokia, Motorola and Ericsson -- had ceased being independent handset makers or had exited the business entirely.

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