Zee Media Bureau/Rd. Alexander
New Delhi: When the USD 7.2 billion Nokia-Microsoft deal officially comes to a close by end of April, the once leading mobile phone of the world, Nokia mobile, will be renamed Microsoft Mobile.
According to reports, while no official announcement has been made, a letter by the company to suppliers, which leaked, revealed that Nokia's phone division will be renamed Microsoft Mobile Oy.
The leaked mail is said to have read, "Please note that upon the close of the transaction between Microsoft and Nokia, the name of Nokia Corporation/Nokia Oyj will change to Microsoft Mobile Oy. Microsoft Mobile Oy is the legal entity name that should be used for VAT IDs and for the issuance of invoices."
Oy is a Finland's equivalent to Ltd/Corporation while Oyj is for "public stock company".
The Microsoft Mobile division will stay in Finland as a wholly-owned subsidiary of Microsoft while the official business address will be changed from Nokai HQ on Keilalahdentie to Keilaranta in Espoo, said a report.
The USD 7.2 billion deal signed in 2013 and which closes in April is, however, not likely to affect have immediate effect on Nokia's business partners.
"Under the terms of the sale, Microsoft will assume all rights, benefits and obligations of the Nokia Devices and Services business, including Nokia's agreements with suppliers, customers and partners which pertain to the Devices and Services business. Therefore, the purpose of this letter is to update you that the current terms and conditions that you have with the Devices and Services business will not change," Nokia is reported to said in the leaked letter.
First Published: Monday, April 21, 2014, 09:39