Microsoft and Nokia have announced that Microsoft will purchase Nokia’s device unit and also its portfolio of patents, in a deal which is worth $7.2 billion.
Don’t expect to see any future Nokia smartphones, as under the terms of the deal Microsoft acquires the ‘Asha’ and ‘Lumia’ trademarks for devices, but not the Nokia brand.
Future devices from Microsoft will come under the Microsoft brand and not the Nokia brand. Nokia was once the top mobile phone maker, but has lost ground to rivals in recent years, and we wont see any more smartphones from Nokia in the future.
Nokia will still be able to use the Nokia brand on feature phones under a 10 year license agreement with Microsoft.
Source The Verge