Nokia to Announce Q1 2014 Results on April 29th; Along with Closing of Microsoft Acquisition

Nokia have just published a press release stating that they’ve gained an exemption that allows them to delay the official release of their quarterly earnings for Q1 2014 till the end of April (I believe it should have been around the first week of April?). This delay is in order to allow them to release the earnings alongside the finalization of the Microsoft acquisition.

As announced earlier, Nokia’s Board of Directors is conducting a strategy evaluation for Nokia Group between signing and closing of the transaction announced on September 3, 2013 whereby Nokia will sell substantially all of its Devices & Services business and license its patents to Microsoft. The transaction is expected to close in April 2014, subject to regulatory approvals and other customary closing conditions.

Nokia applied for the exemption mainly to enhance the possibility of being able to reflect the closing of the transaction and the outcome of the strategy evaluation in the financial statements and Board’s annual review for the year 2013.

It’s also expected for Nokia to highlight their new strategies and sales approach once they have offloaded their devices division to Microsoft.

Source

Category: Lumia, Nokia, Windows Phone