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Old 03-09-11, 05:44 PM   #1
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Join Date: Nov 2005
Location: Toronto-CAN, Hamburg-DE, Prague-CZ
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Arrow Nokia to Get a Billion Dollars from Microsoft


Mobile phone giant Nokia will get over a billion dollars from Microsoft for adopting its Windows Phone system, according to sources at the news agency Bloomberg. Both parties are still keeping the details of their deal under wraps, since the final agreement has not yet been signed.

At the Mobile World Congress fair in Barcelona in February, Nokia CEO Stephen Elop said the deal with Microsoft would be worth billions to Nokia. Now Bloomberg sources reveal that the sum exceeds a billion dollars and the contractís duration is five years.

Under the reputed arrangement, Microsoft will get its investment back in royalty payments. Meanwhile Nokia saves on research and development costs.

The two companies have not yet released the details of their cooperation agreement. A Nokia spokesperson told Bloomberg that they would be revealed only after the final agreement is signed.
Source: YLE
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