Well it looks like Nokia might be back in the smartphone business, today revealing that they have acquired Alcatel-Lucent for 15.6 billion euros, which is about £11.2 billion.
Alongside that the company has stated that it will be merging the company with Nokia, and as soon as the acquisition has been completed Alcatel will operate under the Nokia brand.
As part of the deal Nokia also acquired Alexander Graham Bell’s R&D off-shoot, Bell Labs, however Nokia has confirmed that the Bell Labs brand will be retained.
As of yet we don’t know what Nokia will do with the acquisition exactly, however it will definitively mean they will be moving back in the smartphone market, it is unclear if the company will retain Alcatel’s current devices like the One Touch, or create something a little more Nokia-esk.
That said Alcatel’s license to TCL Communication in Hong Kong is said to continue, with no impact in the agreement between Nokia and Microsoft.
Nokia has also revealed that they may be selling its Here Maps department in order to raise the funds, but has to decide on that fully still.
If they do raise the fund, the Alcatel acquisition should complete in the first half of 2016.