- American City Business Journals•4 months ago
Microsoft has sold the company's entry-level Nokia feature phone business to FIH Mobile Ltd. for $350 million. FIH Mobile is a subsidiary of Hon Hai/Foxconn Technology Group, and HMD Global, which is based in Finland and run by former Nokia and Microsoft executive Arto Nummella. The sale is part of Microsoft’s continued withdrawal from the mobile phone business.
- Reuters•4 months ago
FIH Mobile, a subsidiary of Hon Hai/Foxconn Technology Co Ltd (2354.TW), would also acquire Microsoft Mobile Vietnam as a part of this deal, Microsoft said. The company said its 4,500 employees from Vietnam will transfer to or will have an opportunity to join FIH Mobile or HMD Global Oy. Microsoft will transfer all of its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements to both the companies as a part of the deal.
FIH Mobile Limited (2038.HK)
HKSE - HKSE Delayed Price. Currency in HKD
|Day's Range||2.57 - 2.60|
|52wk Range||2.45 - 3.92|
|1y Target Est||N/A|
|P/E Ratio (ttm)||11.20|
|Avg Vol (3m)||5,997,960|
|Dividend & Yield||N/A (N/A)|