US software giant Microsoft is paying 7.2 billion dollars for Nokia's handset business. Both companies have struggled to keep up with Samsung and Apple in the smartphone sector. Nokia's shares soared on the news.
The Nokia 3310, once the world's most beloved phone, will be resurrected as a low-cost alternative in the smartphone-era. It will be sold by Finnish start-up HMD Global, which acquired the Nokia brand name in 2016.
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