Nokia has agreed the sale of its devices, services business<br />and license its patents to Microsoft for 5.44 billion euros.<br /><br />The sale means that Nokia is cash rich to the tune of 8 billion euros.<br /><br />Shareholders voted for the move in large numbers crushing opposition that wanted to keep the company in Finnish hands.<br /><br />Nokia’s fall from grace was a result of its slow recognition of the market potential of smartphone development.<br /><br />Nokia earlier this year suspended its annual dividend for the first time in the 148-year-old company’s recorded history in an attempt to preserve cash.<br /><br />It is believed that the company plans to return money to shareholders, possibly through a dividend payment.<br /><br />Microsoft has yet to reveal how it will integrate Nokia and its products into its operations.
