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Microsoft was negotiating to buy Nokia but backed out, report says

News   •   Jun 24, 2013 15:52 BST

Microsoft was negotiating to buy Nokia, Finnish form responsible for devices such as the Lumia 925 (check out Nokia Lumia 925 here), but the Redmond firm backed out, a report says.

The news comes to us courtesy of the Wall Street Journal (check out site here). According to WSJ, “Microsoft Corp. recently held advanced talks with Nokia Corp. about buying its handset business, people familiar with the matter said, as laggards in the fast-moving mobile market struggle to gain ground.

“The discussions faltered over price and worries about Nokia’s slumping market position, among other issues, these people said. One of the people said talks took place as recently as this month but aren't likely to be revived.”

“We have a deep partnership with Microsoft, and it is not uncommon for Nokia and Microsoft to meet on a regular basis,” said a Nokia spokesperson.

Microsoft chose not to comment.

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