WKYT | Lexington, Kentucky | News

Nokia stock surges 40 pct on Microsoft takeover

The share price of Nokia Corp has surged 40 percent after Microsoft said it would take over the Finnish firm

In this Aug. 15, 2013 photo, Nokia's Lumia 925 phone is shown at the flagship store of Finnish mobile phone manufacturer Nokia in Helsinki, Finland. Microsoft Corp. is buying Nokia Corp.'s devices and services business, and getting access to the company's patents, for a total of 5.44 billion euros ($7.2 billion) in an effort to expand its share of the smartphone market, the companies announced late Monday, Sept. 2, 2013. (AP Photo/Lehtikuva, Mikko Stig) FINLAND OUT

HELSINKI (AP) - The share price of Nokia Corp has surged 40 percent after Microsoft said it would take over the Finnish firm's smartphones, patents and services in a move to challenge to Apple and Google.

Nokia's shares were up at 4.14 euros in early trading Tuesday in Helsinki.

The $7.2 billion deal announced late Monday marks a major step in Microsoft's push to transform itself from a software maker focused on operating systems and applications for desktop and laptop computers into a more versatile company that delivers services on any kind of Internet-connected gadget.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 222145971 - wkyt.com/a?a=222145971
Gray Television, Inc.