Nokia sells Romanian branch for nearly EUR 19mln in preparation for Microsoft transition

Newsroom 06/02/2014 | 07:00

Nokia Corporation, the sole owner of Nokia Romania, has sold all the shares in the Romanian branch to Nokia Finland Oy. The transaction totaled EUR 18.84 million, being part of the process to prepare the mobile phone division of the Finnish group for the transition to Microsoft, according to Mediafax newswire.

“This change is part of the preparation of our business division D&S (Devices & Services) for the transition to Microsoft. We will continue our activity in Romania,” Nokia representatives told Mediafax.

In November 2013, Nokia shareholders sanctioned the sale of the mobile phone division of the company to Microsoft for a total value of EUR 5.44 billion.

In 2011, Nokia ceased the production of mobile phones in Jucu, as part of a cost reduction program. The production in Jucu started in February 2008 following an investment of EUR 60 million.

Otilia Haraga

 

 

 

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