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Microsoft to Sell Feature Phone Division to Foxconn for $350 Million

Microsoft to Sell Feature Phone Division to Foxconn for $350 Million 5x6ud

By Gadgets 360 Staff | Updated: 18 May 2016 16:08 IST

Highlights

The deal will see the transfer of roughly 4,500 employees.
Microsoft bought Nokia's mobile and service division in 2014.
Microsoft will continue to develop Windows 10 Mobile and Lumia.

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Microsoft on Wednesday announced it is selling its feature phone assets to FIH Mobile, a subsidiary of Hon Hai Precision that's better known as Foxconn, and HMD Global. The deal, worth $350 million (roughly Rs. 2,343 crores), will see the transfer of Microsoft Mobile Vietnam manufacturing facility to Foxconn, alongside roughly 4,500 employees - depending on local law compliance. 3ys1l

The Redmond giant Nokia brand, and had phased out the brand for its smartphones, sticking with just Lumia.

The company has been struggling to keep up with in March itted that Windows Phone is not the company's focus this year, and that it is seeking other ways to tap the mobile market.

Vaio.

The deal is expected to close in the second half of 2016, Microsoft said, subject to regulatory approvals and other closing conditions. The deal will see Microsoft will transfer all its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements.

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