Boston, MA, 11\/21\/2013 (wallstreetpr) \u2013 Investors of struggling Finnish mobile handset maker Nokia Corporation (ADR) (NYSE:NOK) <\/b>are keen to see through the acquisition of its devices and services division by global software technology leader Microsoft Corporation (NASDAQ:MSFT<\/b>) for approximately $7.18 billion, with over 99% of the Nokia investor community voting in favour of the purchase. According to the agreement, Microsoft will pay approximately $5.1 billion to get the complete Nokia Devices & Services wing, with an additional $2.21 billion for related licensing patents. Expected to complete during the first quarter of 2014, the transaction is currently pending regulatory approvals and various mandatory closing conditions.<\/p>\n
Nokia Corporation (ADR) (NYSE:NOK)<\/b>\u2019s recent financial results for its third quarter of 2013 reveal Nokia\u2019s revival capability by posting an operating profit of around $160 million over $7.8 billion in revenue, up from its $757 million in losses a year ago, effectively reducing net losses from roughly $1.2 billion in the third quarter of FY2012 to around $143 million in its recent quarter. Excluding Nokia\u2019s Devices and Services division, which Microsoft will now acquire, Nokia\u2019s profitability stands out, with overall revenue of $3.8 billion yielding $280 million in profits.<\/p>\n
Meanwhile, the Finland-based technology giant, once the world\u2019s numero-uno of mobile handset technology before Samsung raced ahead, has seen moderate success in its risk-prone collaboration with Microsoft, with progressive worldwide sales for its latest innovations designed for Microsoft\u2019s much-touted Windows 8 Phone operating system, under its flagship Lumia product line. Selling just over 8.8 million devices of the Lumia range during the third quarter, Nokia Corporation (ADR) (NYSE:NOK)<\/b>\u2019s risky strategy made good headway, compared to the 7.4 million sales for the previous quarter and the shallow 2.9 million sales for the third quarter of 2012.<\/p>\n
Riding on the Microsoft acquisition in the offing, Nokia stocks showed significant upward movement, almost doubling share value over the last 60 days. Nokia Corporation (ADR) (NYSE:NOK)<\/b>\u2019s latest closing of $7.94 in NYSE trading on November 20 showed a 1.8% rise from its previous close at $7.8. The shares were trading between $7.92 and $8.02 during after hours.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA, 11\/21\/2013 (wallstreetpr) \u2013 Investors of struggling Finnish mobile handset maker Nokia Corporation (ADR) (NYSE:NOK) are keen to see through the acquisition of its […]<\/p>\n","protected":false},"author":13,"featured_media":12644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[1621,738,2817,672],"stock_ticker":[],"class_list":["post-12643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-microsoft-corp-nasdaqmsft","tag-nasdaqmsft","tag-nokia-corporation-adr-nysenok","tag-nysenok","entry"],"acf":[],"yoast_head":"\n