Microsoft has taken an "impairment charge" of $7.6 billion related to its Nokia acquisition, which is nearly the full amount it paid for the Finnish firm's smartphone business and patents last year.
In the 10-Q filed with the U.S. Securities and Exchange Commission (SEC) last week, Microsoft said that its Phone Hardware division, which is based largely on the Nokia assets, lost money in the March quarter.
This suggests that Microsoft has written off the sunken cost of its Nokia acquisition.
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Microsoft today wrote off billions of dollars related to its Nokia acquisition, saying it's taking an "impairment charge" of $7.6 billion, or nearly the full amount it paid for the Finnish firm's smartphone business and patents last year.
Microsoft writes off $7.6B, admits failure of Nokia acquisition
UnknowingFool writes: Previously Microsoft announced they had written off the Nokia purchase for $7.6B in the last quarter. In doing so, Microsoft would create only the third unprofitable quarter in…
Behind the Microsoft Write-Off of Nokia - Slashdot