Two years ago Microsoft spent $7.2 billion buying Nokia, in a last-ditch effort to get back into the mobile phone business. Now that's over: CEO Satya Nadella is shuttering the company's consumer phone unit, laying off nearly 2,000 people, and taking a $950 million charge. Microsoft still insists it will sell phones to the enterprise market, but that seems like a dubious proposition.
[
Ina Fried | Recode]