Nokia was once one of the largest phone companies in the world, but when the smartphone war started, they just couldn’t keep up and started losing marketshare and revenue until eventually they sold its phone business to Microsoft in a desperate attempt not to be eliminated completely from the map.
“We will look for suitable partners. Microsoft makes mobile phones. We would simply design them and then make the brand name available to license.” says Nokia CEO Rajeev Suri.
Just one day before the announcement Microsoft revealed former Nokia CEO Stephen Elop is leaving the firm. The company is apparently trying to merge its devices and Windows divisions under one business unit. We have yet to see if people are still loyal to the Finnish company and we may start seeing some Nokia smartphones popping up again out there, although not until a couple of years from now.
Source: The Verge