Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW
BBC World Service

Microsoft buys Nokia’s devices for $7.2 billion

Mark Gregory Sep 3, 2013
HTML EMBED:
COPY
BBC World Service

Microsoft buys Nokia’s devices for $7.2 billion

Mark Gregory Sep 3, 2013
HTML EMBED:
COPY

Nokia and Microsoft have collaborated on smartphones using Windows software. Now, that relationship has blossomed into a full union.  

Microsoft will pay $7.2 billion for the handset business of a company that was the Apple iPhone or Samsung Galaxy of its time.

“You have to remember that just ten years ago, [Nokia] was worth more than $100 billion,” the BBC’s Mark Gregory says. “It’s declined enormously since then, it’s now only worth about $11 billion.”

Gregory says Nokia’s loss of independence is a pretty emotional moment for Finland – the home of Nokia.

Most people in Finland can remember the day when Nokia was a national trophy and it also accounted for half of the Finish stock market,” he adds.

Click the audio player above to hear from the BBC’s Mark Gregory, and for more reaction from Nokia’s home turf of Finland, click here

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.