Nokia and Microsoft

Have you heard the news? Microsoft is buying a part of Nokia. Yes it's true. Microsoft is buying the phone business of Nokia.

It is going to cost Microsoft $7.2 billion. Nokia's CEO Stephen Elop will step down to become an executive vice president of the division. Microsoft will acquire Nokia's devices and services unit and license the company's mapping services.

Microsoft believes that it needs to be become more direct control of handset manufacturing like Apple.