Besides the billions of dollars Microsoft lost on the Nokia deal and its subsequent fall-out, one of the very real costs is of course to the job security of tens of thousands of people who used to work for Nokia and then Microsoft Mobile.
Microsoft recently announced that they would be closing their factories in Vietnam. Today we have the good news to report that Foxconn, who has already agreed to purchase their Nokia feature phone business for US$350 million, would be taking over the Microsoft Mobile assets in Vietnam for VND492 million (US$22 million).
The deal, via one of its subsidiaries, Chief Expertise, will let Foxconn utilize the handset plant to produce smartphones and feature phones in Vietnam.
The deal is expected to close in the second half of 2016.
Over the two years since Microsoft purchased Nokia’s mobile division Microsoft Mobile shrunk by more than 18,000 employees, and we hope the vast majority have equally landed on their feet.