Former Nokia CEO Stephen Elop will receive $33 million in cash and stock as he leave the Finnish handset maker for his new home at Microsoft. As Reuters pointed out, the compensation is 25 percent higher than what Nokia had originally expected to pay Elop. The boost is due to a surge in the Nokia's share price.
Nokia Corp. reported Tuesday another drop in sales in the troubled devices unit it sold to Microsoft, but its shares rallied as it named a new CEO, promised a special dividend, and prepared to focus on its remaining businesses. Reporting its last quarter to include cellphones, Nokia said Tuesday that net loss in the period was 239 million euros compared with a loss of 272 million a year earlier.
Nokia today announced it has completed the sale of its Devices & Services business to Microsoft. The deal, valued at $7.2 billion when first announced in September 2012, closed at $7.5 billion. Taking into account adjustments for networking capital and cash earnings that were positive for Nokia, the Finnish company expected the deal to close slightly higher than where it is at currently.
Microsoft today announced its acquisition of Nokia’s devices and services business will close Friday, with some changes to the original deal. Detailed in a blog post, the alterations affect Nokia’s web and social media presence, exchange of property, and additional employees moving from Nokia to Microsoft.
With the new Cortana virtual assistant, Windows catches up with Apple's iOS and Google's Android in a major way. Microsoft takes some of the best parts of Apple's and Google's virtual assistants and adds a few useful tools of its own. The result is Cortana, named after an artificial-intelligence character in Microsoft's "Halo" video games.
China has finally approved Microsoft's acquistion of Nokia's devices and services business. On China's Ministry of Commerce website, the Ministry said it would go along with the deal but tacked on a few conditions regarding pricing around the use of Nokia's significant patent portfolio.
Microsoft CEO Satya Nadella is moving his executive teams around and appointing former Nokia CEO Stephen Elop as the executive vice president of the devices group. Elop, who had been rumored as a candidate to replace recently depart Microsoft CEO Steve Ballmer, will report directly to Nadella in his new role. Elop will also have a hand in developing the Xbox, according to Reuters.
Microsoft Office fans who've spent the last nine months using the software's suite of apps on their tiny smartphone screens are probably thrilled that they can finally create and update documents on the iPad's significantly bigger display surface.
Microsoft on Thursday unveiled Office for the iPad, a software suite that includes programs such as Word, Excel and PowerPoint, and works on rival Apple Inc.'s hugely popular tablet computer. The app was to be made available for download on Thursday in the App Store at 11 a.m. Pacific time.
In the market for smartphones, Microsoft's Windows Phone 8 system is barely there. It's dwarfed by Apple's iOS and Google's Android systems in both attention and sales. But over the past few months, I have come to appreciate many of the software's innovations...
Nokia said Microsoft’s plans to buy the Finnish handset giant’s devices and services business has already earned regulatory approval from the European Commission and the U.S. Department of Justice. But antitrust authorities in Asia continue to review the transaction, causing the companies to delay the expected closing date.
Microsoft Corp. on Monday released a version of its OneNote note-taking software for Macs and added new features and a free tier for all of the software's users in moves clearly targeted at up-and-coming productivity software rival Evernote.
Windows Phone is growing globally faster than the rest of the pack, according to a new Kantar Worldpanel. The report points out that Windows Phone has passed up iOS in Italy, moved into a close second in Germany and slid back into third place in the UK.
Nokia introduced three new low-cost smartphones—the Nokia X, X+ and XL—that are based on Android Open Source Project (AOSP) and look like modified Windows Phones. As rumored, Nokia took the Android plunge at Mobile World Congress with a trio of colorful dual-SIM handsets that start at approximately $122.
Nokia today announced the Lumia Icon, its new 5-inch Windows Phone flagship. Besides having a name that’s easier to remember than your typical Nokia, the Icon packs a 2.2 GHz quad-core Snapdragon 800 processor, Adreno 330 GPU, full HD OLED display and Nokia’s 20MP Pureview camera.
After compiling a list of more than 100 CEO candidates, Microsoft settled on Satya Nadella a home-grown leader who joined the software maker in the early 1990s. That's back when Google's founders were teenagers and Facebook CEO Mark Zuckerberg was in elementary school.
WASHINGTON (AP) — Major technology firms have released new data on how often they are ordered to turn over customer information to the government for secret national security investigations, resulting in the collection of data on thousands of Americans. That release came after the companies were freed by a recent legal deal with government lawyers.
REDMOND, Washington (AP) — Microsoft has named Satya Nadella, an executive in charge of the company's small, but growing business of delivering software and services over the Internet its new CEO. Company founder Bill Gates is also leaving the chairman role for a new role as technology adviser.
WASHINGTON (AP) — Technology companies and privacy advocates are praising a new government compromise that will allow the Internet's leading companies to disclose more information about how often they are ordered to turn over customer information to the government in national security investigations.
In the final quarter before Microsoft is due to take ownership of its device business, Nokia saw the unit’s sales drop 29 percent annually while profits continued to sink into the red. Microsoft is buying Nokia’s handset business for approximately $7.4 billion. The transaction is expected to close near the end of the first quarter.
The news, first reported by Bloomber, comes after speculation that Microsoft had its eye on Ford Motor Company's top executive, Alan Mulally. Mulally has since panned those rumors, eventually removing himself from consideration. Vestberg is an Ericsson veteran who originally served as CFO for the company before accepting the role of CEO in 2010.
Nokia today said that the head of its Nokia Solutions and Networks (NSN) business will step down immediately following Micrsoft's acquistion of the company's devices and services divisions. Jesper Ovesen, currently executive chairman of NSN, will leave upon the closing of the Microsoft transaction, which is expected to take place during the first quarter of 2014.
REDMOND, Wash. (AP) — Microsoft expects to finish its search for CEO Steve Ballmer's replacement by early next year. Board director John Thompson, who heads the company's executive search committee, said so in a blog post Tuesday. Ballmer said in August he would retire within 12 months.
In this five part video series, Wireless Week editors Andrew Berg and Ben Munson will count down the top headlines of 2013. Be sure to catch each installment, as we make our way through all the biggest news events from the past year! In case you missed them, check out the previous installments.
LONDON (AP) — Eight major technology companies have joined forces to call for tighter controls on government surveillance, issuing an open letter Monday to President Barack Obama arguing for reforms in the way the U.S. snoops on people.