Nokia has announced in a press release the company will wrap up its $7.9 billion deal with Microsoft on April 25.
The deal regarding Microsoft's Nokia acquisition along all of its Devices and Services business has been announced since September 2013. But Microsoft did not wait too long for the deal to be closed before it start implementing bold plans to reinvent Nokia and bring back its dying smartphone business to life.
In the recent Microsoft Build 2014, Nokia unveiled three of its new smartphones: Nokia Lumia 630, 635, and Nokia Lumia 930, it newest flagship, alongside the Windows 8.1 operating system. Windows is currently the third major player in the OS wars. But its success may still be trivial compared to the widely used Android and Apple iOS.
Brad Smith, executive vice president of the Legal and Corporate Affairs of Microsoft, confirmed the company's $7.9 billion acquisition of Nokia in an official blog statement.
He said the megadeal will facilitate Microsoft's plans of marketing the adoption of Windows phones.
"...we look forward to introducing the next billion customers to Microsoft services via Nokia mobile phones," Smith added.
He noted Nokia and Microsoft made numerous adjustments to finally reach the deal's completion. From manufacturing staffs to online and IT assets, both companies gave their efforts to ensure the business will be able to benefit the consumers and the company.
Meanwhile, emerging reports said Nokia will no longer be the brand that the smartphones and other Nokia devices will carry in the near future. A letter from Nokia has leaked to the media saying the handsets will be renamed "Microsoft Mobile."
If the rumors were true, the Nokia brand may no longer exist although Microsoft will retain suppliers and employees for Nokia devices in China and Korea manufacturing facilities.
"Please note that upon the close of the transaction between Microsoft and Nokia, the name of Nokia Corporation/Nokia Oyj will change to Microsoft Mobile Oy. Microsoft Mobile Oy is the legal entity name that should be used for VAT IDs and for the issuance of invoices," a passage from Nokia's leaked letter for its suppliers revealed by a source.