Microsoft recently abandoned talks with Nokia about buying the Finnish company’s handset division, according to Wall Street Journal sources.
The discussions reportedly took place as recently as this month but failed to develop into anything due to concerns about price and Nokia’s declining position in the market. The discussions are unlikely to be revived, the sources added.
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Nokia is valued at more than $14 billion on the US stock market and the company’s phone unit contributed nearly half of its $40.15 billion in revenue in 2012.
A Nokia spokeswoman told the Wall Street Journal: “We have a deep partnership with Microsoft, and it is not uncommon for Nokia and Microsoft to meet on a regular basis.” Microsoft declined to comment.
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