Earlier this month Microsoft Corporation (NASDAQ:MSFT) signed a deal with Nokia to have their smartphones powered by Windows Phone 7. What you may have not known is that Microsoft is paying billions of dollars to make the deal happen and there was a bidding war with Google Inc. (NASDAQ:GOOG). Nokia CEO Stephen Elop did not mention the financial value of the deal initially. Elop said that Microsoft’s payments were recognition that Nokia had “substantial value to contribute.” Nokia’s market share in the smart phone market was just over about 30% in the fourth quarter of last year. Stephen Elop is a former executive at Microsoft. He said he was not a “Trojan horse” at Nokia, meaning giving his former employer a leg up in the deal. [TechSpot]
Nokia Chose Microsoft Windows Phone 7 After Bidding War With Google
Categories: Google, Microsoft Corporation, Microsoft Windows Phone 7, Nokia Corporation, Stephen Elop.
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