Nokia sale creates waves

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On Tuesday, Microsoft said it would pay 5.44 billion euros ($7.18 billion) to buy Nokia's mobile phone business and related patents. Provided to China Daily

But fierce competition means it's a tough call for buyer Microsoft

Microsoft Corp's acquisition of Nokia Corp's mobile business is not likely to introduce a real comeback for the

Finnish company in the world's smartphone industry, especially in the Chinese market, where competition is harsh.

On Tuesday, Microsoft said it would pay 5.44 billion euros ($7.18 billion) to buy Nokia's mobile phone business and related patents. As part of the deal, Microsoft will bring aboard 32,000 Nokia employees including the company's Chief Executive Officer Stephen Elop.

The joint announcement by Microsoft and Nokia has definitely aroused acute interest in China, where Nokia boasts having more than 250 million users. The nation is still Nokia's biggest market and is the world's biggest Windows Phone market.

Nokia had a more than 70 percent share in China's smartphone market in 2009. It now struggles maintaining a mere 1 percent share as of June, according to International Data Corp. The company was overtaken by Samsung Electronics Co Ltd, as well as by local players such as Huawei Technologies Co Ltd and Lenovo Group in recent years.

• Microsoft reaches 5.44 billion euro deal for Nokia handset business
• Reaction to Nokia transaction mixed among Fins
• Nokia stock price surges on announcement of Microsoft deal
• Nokia's China boss focuses on cooperation
• Nokia's Global Headquarters: visiting a declining empire
• Nokia launches high-end camera phone in China
• Nokia Siemens: 'No comment' to job cut report
• Nokia suffers Q2 losses despite popularity of Lumia phones
• Nokia deal will not affect business in China

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