Nokia announced on Friday (25) completion of the sale of its once dominant mobile business to Microsoft , after the companies agreed to leave two factories in India and Korea, out of business.
The company said it now expects the final sale price is slightly higher than the 5.44 billion euros (U.S. $ 7.52 billion) previously announced.
The Nokia said that due to a tax dispute with the Indian authorities, it will operate the Chennai factory as a manufacturing contract with Microsoft.
The company also said it will close the plant in Masan, Korea, which has approximately 200 employees.
Nokia said that its Board of Directors shall meet at the beginning of next for matters related to the company’s strategic review week.
A news item in a newspaper on Friday said that Nokia will outline its new strategy on Tuesday, along with the quarterly results, and will also appoint Rajeev Suri, NSN chief as new CEO.