Microsoft Buys Nokia To Outdo Apple And Google
Posted: September 5, 2013 by Emily Brown
With $7.17 billion dollars in hand, Microsoft has taken over Nokia's devices and services business, along with a 10-year non-exclusive license of the company's mapping services. All in all, it is a move that CEO Steve Ballmer describes as "a bold step into the future."
Even though Nokia is nothing like the mobile-phone giant it once was, Microsoft has solid reasons to acquire the company that has fallen far behind Samsung and Apple in the fierce smartphone race.
If you're wondering what Microsoft's thought process was for their latest acquisition, apart from the fact that intends to surpass Apple and Google, read on….
- They intend to spur both its shares and profits in phones;
- They aim towards creating a first-class Microsoft phone experience for its users;
- They want to avail itself of an outsized financial opportunity empowered by growth in smartphone business;
That is, hope we helped you add more sense and justification behind Microsoft's huge but probably worthwhile investment.