Nokia completes handset business sale to Microsoft

April 26, 2014 3:08 am

Nokia has said the sale of its handset business to Microsoft has been closed after the companies agreed to leave two factories in India and South Korea out of the deal, Reuters has reported. Due to an ongoing tax dispute with Indian authorities, Nokia said it would operate the Chennai factory as a contract manufacturing unit for Microsoft. It also said it will close a plant in Masan, South Korea. The final sale price is expected to rise slightly above the previously announced €5.44bn, said Nokia.