Reginal Thomas
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Microsoft To Buy Nokia's Device Unit For $7.2 Billion


Microsoft Corp. (NYSE: MSFT) has to to an agreement with Nokia Oyi (NYSE:NOK1V) to buy Nokia's handset unit and license it's patents for $7.2 billion. With market share mostly belonging to Apple and Google with their iPhones and Android phones, this could be a great move for Microsoft to regain market share in the mobile phone business, but it could also spell the end for Nokia cell phone devices. 

Microsoft will get the 32,000 new employees along with the acquisition, including Nokia CEO Stephen Elop, who worked at Microsoft before running Nokia for 3 years. Speculation on where Elon, will replace the current Microsoft CEO Steve Ballmer, who announced his retirement earlier last month.