11 Feb '11, 11am

Nokia joins forces with Microsoft in mobile phone war - CNA

HELSINKI: Nokia, the world's largest mobile phone maker, said Friday it was joining forces with US giant Microsoft in a major corporate strategy shake-up that left investors disappointed. The Finnish phone maker said Microsoft's Windows Phone would now serve as its primary smartphone platform in a "broad strategic partnership" destined to regain market share from competitors Apple and Google. Nokia's chief executive Stephen Elop -- a former Microsoft executive who in September became the first non-Finn to lead Nokia -- also announced changes to the company's executive board in his new strategic plan. The announcements were met, however, with sharp disappointment on the stock market, as Nokia's share price plummeted 9.44 per cent to 7.39 euros ($9.99) on the Helsinki Stock Exchange which was down 0.87 per cent. "Nokia is at a critical juncture, where significant change is n...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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