
REDMOND, WA – Microsoft Corp. is selling its 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. will also acquire the company's Vietnam-based manufacturing facility Microsoft Mobile Vietnam. Microsoft said that it will transfer “substantially all” of its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements, subject to compliance with local law.
Microsoft pledged to continue to develop Windows 10 Mobile and support Lumia phones such as the Lumia 650, Lumia 950 and Lumia 950 XL, and phones from OEM partners like Acer, Alcatel, HP, Trinity and VAIO.
Upon close of this deal, expected in the second half of 2016, approximately 4,500 employees will transfer to, or have the opportunity to join, FIH Mobile Ltd. or HMD Global, Oy, continued the news release.