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Finland's Nokia said on Monday the liabilities of its former unit Nokia Mexico S.A. de C.V. were now held by Microsoft Corp, responding to a Mexican court ruling that Nokia Mexico would have to pay damages for faulty equipment.
Nokia has won an appeal to release a local factory seized by authorities in a tax dispute, allowing the transfer of the plant as part of the sale of its mobile phone business to Microsoft.
Nokia is expected to show a steep fall in network equipment sales in its results this week, highlighting the challenge facing management after selling its once mighty handset division to Microsoft for 5.4bil euros (RM24.25bil).
Nokia does not expect to close the sale of its phone business to Microsoft until April as talks with Asian regulators drag on, it said on Monday, fuelling speculation it may have to make technology patent concessions to get the deal done.
Finnish telecoms gear maker Nokia on Thursday announced a stronger-than-expected quarterly profit margin in its core networks unit helped by cost cuts and said its full-year expectations had improved.
HMD Global, the Finnish company that owns the rights to sell Nokia-branded phones, is targeting growth in both its smartphones and more basic models as it bids to become Africa's number-one phone brand, its vice president for sub-Saharan Africa said on June 21.
Nokia is pinning its hopes on Lumia phones sales in China to help shrink revenue decline.