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Microsoft announces Nokia purchase

CNN Contributor
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Microsoft announced late Monday night that it will buy Nokia’s mobile phone business–a momentous deal that pits Microsoft squarely against Apple and Google in the hotly contested smartphone arena.

The €5.4 billion ($7.2 billion) acquisition gives Microsoft control of the second-largest mobile phone manufacturer in the world, according to IDC. The Finnish Nokia is well behind Samsung in cell phone sales but far ahead of third-place Apple, according to IDC.

Full Story: Microsoft announces Nokia purchase