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Wireless

Nokia excludes Indian phone factory from deal with Microsoft

Thursday 24 April 2014 | 17:20 CET | News
Nokia will exclude its India mobile phone factory from a EUR 5.44 billion agreement to sell its mobile phone business to US software comany Microsoft due to a tax dispute in the country, Bloomberg reports. Last month, an Indial high court ordered Nokia to guarantee tax liabilities of the Indian unit before transferring the plant to Microsoft. The Finnish company is also offering a voluntary retirement plan to its workers at the plant located near the city of Chennai. Nokia expects to complete the sale of its devices and services business to Microsoft on 25 April, according to the report.

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Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: India
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