Nokia Woes, Might Call For, Microsoft Aid
Nokia Woes Might Call For Microsoft Aid,
Nearly a year and a half on, and with Nokia's Lumia mobile phone range failing so far to revive sales, its position still looks frail. Its shares have lost 90% in five years and its debt is rated junk by two of the three major ratings agencies.
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| Nokia Woes Might Call For Microsoft Aid |
Might Microsoft Corp, Elop's former employer and whose software Lumia is based on, have to step in to help Nokia out, seeing the Finnish company as a valuable point of entry into the cellphone market?
For Microsoft the relationship is important, because Nokia was its first major break into the smartphone market after a decade of heavy investment. During that period other cellphone makers either chose to use their own software - as did Apple - or Most Favorable Google Inc's Android.
Microsoft is already paying Nokia $1 billion a year to use its software on Lumia smartphones. And investment bankers familiar with the technology sector said the support could extend well beyond that amount, if Nokia’s problems intensify.
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