Microsoft CEO Steve Ballmer with Nokia CEO Stephen Elop.
Microsoft was in advanced talks to purchase Nokia, but the deal recently fell through, according to The Wall Street Journal.
If the acquisition had gone through, it would've helped Microsoft's transition from software company to one that makes hardware too.
The WSJ says there's little chance the acquisition talks will resume.
Ever since Nokia partnered with Microsoft to make Windows Phones, there's been a lot of speculation that Microsoft would eventually buy Nokia.
Today, all of Nokia's flagship smartphones run Microsoft's Windows Phone 8 operating system. The company has repeatedly said it doesn't plan to pursue other platforms like Android.
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