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Microsoft to sell feature phone assets

Released at: 16:37, 19/05/2016

Microsoft to sell feature phone assets

$350 million deal to be closed in the second half of the year.

by Thanh Kiem

Microsoft has recently announced it has reached an agreement to sell its entry-level feature phone assets to FIH Mobile Ltd., a subsidiary of Hon Hai/Foxconn Technology Group, and HMD Global, Oy, for $350 million.

As part of the deal, FIH Mobile Ltd. will also acquire Microsoft Mobile Vietnam, its manufacturing facility in Hanoi. Some 4,500 employees will transfer to or have the opportunity to join FIH Mobile Ltd. or HMD Global, Oy.

As part of the deal Microsoft will transfer all of its feature phone assets, including brands, software and services, customer care network, customer contracts, and critical supply agreements. The transaction is expected to be closed in the second half of 2016, subject to regulatory approvals and other conditions.

Source: Microsoft

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