Nokia to be renamed as Microsoft Mobile

This April end marks the closure of the Nokia – Microsoft deal. As found stated in a leaked letter, Nokia is soon to be renamed as the Microsoft Mobile according to the reports from the wmpoweruser.com. All of the development concerned with the windows phone is tracked by this website. Upon the deal closure the Nokia Corporation will change its name from Nokia Oyi to Microsoft mobile Oy as it mentioned to its Finnish sellers in the letter. Henceforth this name only will be considered legal to be used in issuance of invoices as well as for VAT IDs. Oyi stands for ‘public stock company’ and Oy is for ‘corporation’ as in Finnish. But this doesn’t mean no more Nokia. It just means that the world will know it by a different name. Its mobile phone division as well as its feature phone development team is to be acquired by Microsoft.

Image Source: kitguru.net

However the ‘Here’ maps division and other network equipment business divisions will not be acquired. These divisions can continue with the name Nokia. The $7.2 billion deal bought the brand name usage license for 10 years. In addition to this, the deal buys Microsoft to use the brand names including Asha and Lumia. As per the deal, before the end of 2015 Nokia agrees not to develop a Smartphone under original brand. All the benefits, obligations and rights of Nokia pertaining to devices and services business will be assumed by Microsoft under the terms of the deal. Earlier this deal was meant to close by the end of March. But Chinese authorities took a bit more time to approve. The Nokia’s Chennai manufacturing plant issue also delayed this deal. Reports are there that this issue will not be considered in the deal.