Microsoft lower on Nokia report

Jun 01, 2011
Microsoft logo. Microsoft shares were down nearly two percent on Wall Street on Wednesday amid an unconfirmed report that the US software giant had agreed to purchase Nokia's mobile business for $19 billion.

Microsoft shares were down nearly two percent on Wall Street on Wednesday amid an unconfirmed report that the US software giant had agreed to purchase Nokia's mobile business for $19 billion.

Microsoft shares were 1.92 percent lower at $24.53 in early afternoon trading in a market that was down overall.

The website Boy Genius, or BGR.com, reported on Wednesday that according to industry insider Eldar Murtazin, Microsoft has struck a deal to purchase Nokia's for $19 billion, a claim dismissed by a Nokia spokesperson.

"Eldar's rumors are getting obviously less accurate with every passing moment," the Nokia spokesperson told the site.

Asked about the report by AFP, a Microsoft spokesman said "Microsoft does not comment on rumors or ."

Nokia shares fell 17.5 percent on Tuesday after the world's top sharply downgraded its second quarter outlook. They were down another 10 percent at one point on Wednesday, falling to their lowest level since 1998.

While it remains the world leader, Nokia has in recent years seen its dwindle amid tougher competition in the high-end smartphone sector.

In September, Nokia hired former Microsoft executive Stephen Elop to be chief executive of the Finnish company. In February, Nokia announced it was abandoning its smartphone platform to adopt Microsoft's mobile operating system.

Explore further: Judge approves $450 mn deal in Apple ebook suit

add to favorites email to friend print save as pdf

Related Stories

Microsoft Office coming to Nokia mobiles

Aug 12, 2009

Microsoft and Nokia, in a challenge to Research in Motion's Blackberry, announced Wednesday that Microsoft Office software will be available on smartphones made by the Finnish company.

Nokia CEO: Co. to get billions from Microsoft

Feb 13, 2011

(AP) -- Nokia Corp. will get billions of dollars from Microsoft Corp. to ditch its current smart-phone software in favor of Windows Phone 7, Nokia CEO Stephen Elop said Sunday, in a defense of the deal.

Nokia share price plummets as it lowers outlook

May 31, 2011

The world's top mobile phone maker Nokia on Tuesday downgraded its second quarter outlook, saying sales would be far lower than expected and that it could no longer give a full-year forecast.

Nokia says to cut 4,000 jobs, outsource 3,000

Apr 27, 2011

The world's leading mobile phone maker Nokia said on Wednesday it will cut 4,000 jobs worldwide by the end of 2012 and transfer a further 3,000 employees to consulting firm Accenture.

Recommended for you

Dish restores Turner channels to lineup

Nov 21, 2014

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

'Call of Duty' blasts past $10 bn in sales

Nov 20, 2014

Blockbuster military shooter video game "Call of Duty" has blasted past $10 billion in lifetime sales, propelled by demand for the latest installment in the 11-year-old franchise.

Square's point-of-sale service goes global

Nov 20, 2014

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

Vendicar_Decarian
not rated yet Jun 02, 2011
Microsoft started to go down the tubes the day that Monkey Boy Ballmer took the helm.

It would have been funny if he actually had managed to purchase YouTube and driven Microsoft into the ground in one swell foop.

Well done Monkey boy... Well done...

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.