Nokia’s new CEO Timo Ihamuotila, its Chairman of the Board, Risto Siilasmaa, and its outgoing CEO Stephen Elop announced a €5.44bn deal on September 2 for the sale of the famous Finnish telecoms manufacturer’s handsets division to American software giant Microsoft.

“Nokia already produces more than 80 per cent of smartphones using Microsoft’s Windows Phone operating system, notes Helsingin Sanomat. The newspaper adds that —

Microsoft has been trying unsuccessfully to make a breakthrough on the mobile phones market for more than 10 years. Without Nokia, it would have been virtually impossible.