After a report came out that there were talks about Microsoft (NASDAQ:MSFT) buying Nokia’s mobile phone business, the Finnish handset manufacturer experienced as much as a 4.1 percent increase in Helinski trading.
The Wall Street Journal reported on the talks and said that the two sides made “significant progress” on combining Microsoft and Nokia’s cellphone business. Since then, the talks seem to have faltered somewhat though.
Nokia used to dominate the mobile phone market, but it now has to fight Samsung and Apple (NASDAQ:AAPL) for market share and it has lost so far. Mikko Ervasti, an analyst at Evli Bank Oyj, says this deal could be beneficial to both Microsoft and Nokia.