Microsoft CEO, Satya Nadella, had announced plans earlier in the year to let go of 18,000 employees globally, including about 12,500 associated with Nokia devices:
We are moving from a strategy to grow a standalone phone business to a strategy to grow and create a vibrant Windows ecosystem, including our first-party device family. In the near-term, we’ll run a more effective and focused phone portfolio, while retaining capability for long-term reinvention in mobility.
Microsoft was committed to our first-party devices, including phones, but needed to focus its phone efforts in the near term.Advertisement
Microsoft plans to write off $7.6 billion from the acquisition of Nokia. The company paid $7.2 billion for the Nokia mobile division in 2014.
Furthermore, Nadella reveals that the company will not be killing the Lumia smartphone line, with promises of a flagship release, later in the year, which will run the new Windows 10 OS.
Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.
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