Microsoft Agrees to Buy Nokia Mobile Phone Business

Microsoft has agreed to purchase Nokia’s mobile phone business for $7.2 billion. This acquisition is a part of Microsoft’s efforts to catapult forward in the mobile space, where its Windows software devices are lacking consumer adoption.
 
With mobile device shipments predicted to surpass PC sales by 2017, it is a no-brainer that Microsoft is tirelessly fighting in the mobile market. To thrive in the mobile space, Microsoft needs to act quickly as archrivals such as Apple and Samsung have already moved onto the next big thing: wearable devices. This puts Microsoft in a very difficult position as not only do they have to compete in a saturated mobile space, but also come out with devices that could possibly be the next “big thing” in consumer electronics. Hopefully with the acquisition, Microsoft will be able to come up with new wowing products – something they haven’t done in a really long time.
 
Read the whole article at Ad Age.