Cash - Nokia is now a powerful company with huge cash reserve of close to $10 b in addition to being anchored by the now turnaround completed Nokia Solution Network which is hugely profitable now and growing in an industry wide up cycle. In a way Elop is leaving Nokia with more cash than when he first came in. As a profitable company with huge cash reserve, we are likely to immediately receive a massive upgrade from Moody, Fitch, and other rating agencies
Nokia Solutions Network - This will become the new core business of Nokia. It is hugely profitable and is in an up cycle. In lieu of the recent financial discussion associated with Nokia acquisition of 50% interest from Siemens, this division should be valued north of 8b since Nokia acquired price is seen as extremely low not just because it isprofitable, but it is growing in profitability and 8b valuation is taken in comparison to that of its nearest competitor Erricison.
Nokia Patents - Profitable We are still holding the patents and Nokia has every right to license it to others. Those delegating to Microsoft has already been 'in use' anyway since Lumia series was part and parcel of Nokia anyway so we are likely to continue to receive $1b every year.
Devices - We have to be careful in our analysis of this division. By acquiring the Lumia series , Nokia has now no more loses associated with this dragging unit in the future. In other words, from now, Nokia is a clean sheet of paper. One question though is how does this acquisition linked to its profitable feature phone business ? Did Microsoft acquired its entire profitable feature phone business as well. If not then Nokia do have another profitable line of business as well. If it does, there is nothing to stop Nokia from starting a line mobile devices using its strong brandname, new partnership with Facebook and huge cash.
Here - Valued $10b in comparison with other recent mapping business buy out
To answer your question the deal includes Feature phones as well and a proviso that states Nokia cannot make a smartphone for 30 months after the deal is completed. But Nokia will retain it's brand name.
I agree, my initial sketch pad evaluation showed what you came up with, with the cash and profitability the bond ratings will have to rise. The phone zombies are kidding themselves of once was, the company was dying all because of phones, and tell me has the phones made a damn dime recently, no, get what you can clean the books and make a new Nokia in wireless infrastructure!
Further to my Reality Check on Nokia Patent, we are not receiving $1b from Microsoft but from the many others already paying for the right to use Nokia patents. This amount to $1b every year. We did not sell any of such patents to Microsoft other than those directly associated with the development of Lumia.