Bureau Chief, Helsinki
Ritsuko's Feed
Sep 3, 2013

Insight: As Finland reels, Microsoft doubles down with Nokia phone deal

HELSINKI/SEATTLE (Reuters) – In an era when shiny new tech start-ups can be worth tens of billions of dollars, Microsoft’s deal to acquire Nokia’s mobile handset business for 5.44 billion euros ($7.2 billion) is a modest one from a strictly financial point of view.

Yet the deal is likely to go down as a major turning point in the contemporary technology business, one that marks the end of a Finnish company’s unlikely run as world-beating tech icon even as it shapes the future of Microsoft Corp – for better or for worse.

Sep 3, 2013

As Finland reels, Microsoft doubles down with Nokia phone deal

HELSINKI/SEATTLE, Sept 3 (Reuters) – In an era when shiny
new tech start-ups can be worth tens of billions of dollars,
Microsoft’s deal to acquire Nokia’s mobile handset business for
5.44 billion euros ($7.2 billion) is a modest one from a
strictly financial point of view.

Yet the deal is likely to go down as a major turning point
in the contemporary technology business, one that marks the end
of a Finnish company’s unlikely run as world-beating tech icon
even as it shapes the future of Microsoft Corp – for
better or for worse.

Sep 3, 2013

Nokia to sell handset biz to Microsoft for $7.2 billion

HELSINKI/SEATTLE (Reuters) – Two years after hitching its fate to Microsoft’s (MSFT.O: Quote, Profile, Research) Windows Phone software, a withered Nokia (NOK1V.HE: Quote, Profile, Research) collapsed into the arms of the U.S. software giant, agreeing to sell its main handset business for 5.44 billion euros.

Nokia, which will continue as a maker of networking equipment and holder of patents, was once the world’s dominant handset manufacturer but was long since overtaken by Apple APPL.O and Samsung (005930.KS: Quote, Profile, Research) in the highly competitive market for more powerful smartphones.

Sep 3, 2013

Nokia to sell handset business to Microsoft for 5.44 billion euros

HELSINKI/SEATTLE (Reuters) – Two years after hitching its fate to Microsoft’s Windows Phone software, a withered Nokia collapsed into the arms of the U.S. software giant, agreeing to sell its main handset business for 5.44 billion euros (4.6 billion pounds).

Nokia, which will continue as a maker of networking equipment and holder of patents, was once the world’s dominant handset manufacturer but was long since overtaken by Apple and Samsung in the highly competitive market for more powerful smartphones.

Sep 3, 2013

Nokia to sell handset business to Microsoft for $7.2 billion

HELSINKI/SEATTLE (Reuters) – Two years after hitching its fate to Microsoft’s Windows Phone software, a withered Nokia collapsed into the arms of the U.S. software giant, agreeing to sell its main handset business for 5.44 billion euros ($7.2 billion).

Nokia, which will continue as a maker of networking equipment and holder of patents, was once the world’s dominant handset manufacturer but was long since overtaken by Apple and Samsung in the highly competitive market for more powerful smartphones.

Aug 29, 2013

Finnish government plans to trim generous welfare model

HELSINKI (Reuters) – Finland’s government announced a long-term plan to start scaling back its welfare system, one of the most generous in the world, aiming to preserve its triple-A credit rating in the face of a slower economy and aging population.

In a statement on Thursday, the government laid out a wide range of measures, including a hike to the effective retirement age to 62.4 in 2025 from a current 60.9. It also said it could force municipalities to consolidate and speed up health care reforms.

Aug 7, 2013

Nokia Solutions chief sees 4G rollout in Europe picking up

HELSINKI (Reuters) – The head of telecoms equipment maker Nokia Solutions and Networks (NSN) expects the roll-out of 4G wireless networks to pick up in Europe in the second half, as operators seek to meet growing demand for faster wireless Internet.

NSN Chief Executive Rajeev Suri said on Wednesday 4G Long Term Evolution (LTE) networks, which have so far been concentrated in markets such as Japan, South Korea and the United States, were becoming more global.

Jul 22, 2013

Smartphone laggard Nokia picks up pace under CEO Elop

HELSINKI, July 22 (Reuters) – Nokia CEO Stephen Elop recalls
a meeting in August 2011 in which the company’s leadership
struggled to decide on the name of its new smartphone, the first
using Windows Phone software.

“We almost fell into the trap that had often befallen Nokia,
which was… let them work on it a bit longer because we
couldn’t quite reach agreement,” Elop said. Instead, he demanded
a decision that day.

Jul 18, 2013

Nokia’s halting turnaround hit by weak handset sales

HELSINKI (Reuters) – A disappointing set of quarterly sales figures for Nokia’s smartphones and basic models raised the pressure on its chief executive on Thursday and took a bite out of the company’s share price.

Investors are hoping that its Lumia smartphone range, which CEO Stephen Elop decided to base on Microsoft Corp’s untested Windows Phone software in 2011, will help the company revive its ailing fortunes and close the yawning lead of frontrunners Samsung and Apple, but progress has been slower than analysts expected.

Jul 12, 2013

Preview: Nokia’s buyout chances in focus ahead of results

HELSINKI (Reuters) – Next week could be crunch time for Nokia Oyj and its Chief Executive Stephen Elop in their battle to prove the Finnish mobile phone company can survive on its own.

Investors will be scrutinizing second-quarter results to see whether there’s enough cash to stay with a turnaround plan which Elop said would take two years but is now into its third.