At the Mobile World Congress fair in Barcelona in February, Nokia CEO Stephen Elop said the deal with Microsoft would be worth billions to Nokia. Now Bloomberg sources reveal that the sum exceeds a billion dollars and the contract’s duration is five years.
Under the reputed arrangement, Microsoft will get its investment back in royalty payments. Meanwhile Nokia saves on research and development costs.
The two companies have not yet released the details of their cooperation agreement. A Nokia spokesperson told Bloomberg that they would be revealed only after the final agreement is signed.