Nokia Mobile-Phone unit is about to be sold to the biggest Technology firm Microsoft.
Microsoft has agreed a deal to buy Nokia mobile-phones business for 5.4 billion euro ($7.2bn; £4.6bn).
Nokia will be licensing its patents and mapping services to Microsoft.
Both companies said in a joint news release that this deal will be finalised earlier in 2014, when almost 32,000 Nokia employees will transfer to Microsoft.
Nokia which was once a global leader in the mobile phone market, now struggled in recent times due to increased competition from rivals like Samsung and Apple.
The transaction is subject to approval by the shareholders and regulators of the Mobile Company.
The CEO of Microsoft Steve Ballmer said: “It’s a bold step into the future – a win-win for employees, shareholders and consumers of both companies”.
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