Microsoft received the okay from Nokia investors of the 7.4 billion dollar deal to acquire the company. The vote was 99% in favor of the acquisition while 1% of the investors wanted the deal to die. Now that the mobile phone division of Nokia is gone what is left for the company?
Nokia has many hardware services, and it has done a little bit of everything ever since the company was founded. Nokia has made everything from phones to paper in its life time, and now that it has sold their failing division, they can focus on there other products in hopes of making more revenue.
Issues Within Nokia
Nokia has been struggling for quite sometime, and they needed a way to get out of the smart phone game. Nokia was the king of mobile devices before 2007 when the smart phone was just an idea among many tech companies. However, Nokia is still the 5th largest mobile phone maker with about 3% of the total market share which is dwarfed by the Android market.
After the mobile division is sold, more then 21,000 jobs are going to be cut, and the workers have gone on strike over the recent issue.
Nokia will continue to struggle if they can’t get out of their old ways and generate a fair share of the market in either hardware or any of their other products.
Was this a smart move by Nokia or will the company dissipate after the loss of their deal with Microsoft.