Microsoft is no longer involved in mobile phone design and manufacturing

Microsoft Corp will stop designing and manufacturing mobile phones, Finland’s Helsingin Sanomat newspaper reported on its website citing an unnamed source.

A spokesman for Microsoft Finland declined to comment on the report which said the company had invited its Finland-based phone developers to a meeting in Espoo on Wednesday.

The U.S. company entered the phone business in 2014 by buying Finnish firm Nokia’s once-dominant handset unit for about $7.2 billion.

It failed to turn the business around and took a $7.5 billion writedown last year.

This month Microsoft announced a sale of its entry-level feature phones business for $350 million, but said it would continue to develop its Lumia smartphones.

Source: Reuters