Nokia's $7.36 billion sale of its device business to Microsoft is expected to close this week.
Nokia Corp. (NYSE: NOK) announced Monday that the deal is expected to close on April 25. The deal was announced on September 3 last year and delayed while the companies waited for approval from Chinese authorities this year. (See Euronews: Nokia Handsets Sale Delayed, Euronews: Nokia Handsets Sale Delayed and Nokia: It's Really Happening.)
A report suggests that Nokia may also have its name changed after the transition. A leaked letter to Nokia's suppliers suggests that the company will be renamed "Microsoft Mobile."
So, as soon as next week, one of the world's iconic cellphone brands could cease to exist. Aside from the NSN infrastructure unit, Nokia is hanging on to its location services business and its trove of patents.
— Dan Jones, Mobile Editor, Light Reading