Done deal: Microsoft entry-level feature phone assets sold to FIH Mobile
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As announced in May, Microsoft today completed their deal on selling their entry-level feature phone assets to FIH Mobile Ltd., a subsidiary of Hon Hai/Foxconn Technology Group, and HMD Global, Oy for $350 million. As part of the deal, FIH Mobile Ltd. also acquired Microsoft Mobile Vietnam — the company’s Hanoi, Vietnam, manufacturing facility.
Microsoft has transferred substantially all of its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements to FIH Mobile. On a related news, HMD Global today announced that they will start selling Nokia branded Android smartphones from next year. Read about it here.
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