Microsoft has announced that it is selling off the Nokia feature phone division that it acquired when it bought out Nokia’s mobile phone business.
The business is being sold to FIH Mobile LTD which is part of smartphone manufacturing giant Foxconn, the company will pay Microsoft $350 million for their feature phone business.
Microsoft has said that it will continue to develop smartphones and also work with partners to develop Windows 10 Mobile devices.
Microsoft will continue to develop Windows 10 Mobile and support Lumia phones such as the Lumia 650, Lumia 950 and Lumia 950 XL, and phones from OEM partners like Acer, Alcatel, HP, Trinity and VAIO.
As part of the deal, Microsoft will transfer substantially all of its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements, subject to compliance with local law. The transaction is expected to close in the second half of 2016, subject to regulatory approvals and other closing conditions.
The company is rumored to be working on a new Surface Phone which is expected to launch early next year.
Source PRNewswire, Engadget
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