End of an era: Microsoft buys Nokia’s devices and services business

 

Zach Epstein:

Nokia’s devices and services business moved over to Microsoft on Friday morning as part of a deal worth more than $7 billion. The deal values Nokia’s handsets division at around $5 billion, which is obviously a painfully small fraction of what it was once worth.

The cell phone maker’s failure to react when Apple first launched the iPhone back in 2007 led directly to the company’s collapse. I remember it like it was yesterday — especially when one Nokia executive told me in 2008 that “Apple is like the annoying fly buzzing around the fisherman’s head. Nokia is still the fisherman and we’ll still catch all the fish.”

Nokia still knows how to make great handsets though especially the Windows Phone Lumia’s.