Microsoft will pay approximately 70 percent of that sum and Nokia will pay the remaining amount.
Former Nokia CEO Stephen Elop, now head of Microsoft's devices group, shares his thoughts on the future of smartphones and the promise of a transcendent "colorful personality."
As Nokia's phone business is officially absorbed by Microsoft, Nokia boss Stephen Elop is taking to the Internet for an "ask me anything" session.
The Nokia boss will take charge of Microsoft's games and hardware, including Xbox, and the soon-to-be-acquired Nokia mobile division.
Elop's return will see him take over Devices and Studios from Julie Larson-Green who will head to Applications and Services.
Julie Larson-Green to become leader of My Life & Work team, which is part of the company's Applications and Services Group.
In an interview with CNET, Stephen Elop weighs in on the marketing strategy for the Nokia X family of phones, teases the next Lumia, and shares his thoughts on wearables.
New reports suggest Ford's Alan Mulally and Microsoft exec Satya Nadella are ahead of rivals including Nokia boss Stephen Elop in the race to replace Microsoft CEO Steve Ballmer.
If Nokia's Stephen Elop was appointed Microsoft CEO, he would bring Office to rival mobile platforms, insiders say.
That's the word from people who claim to have knowledge of Elop's line of thinking, which is still evolving as Microsoft contemplates who'll replace Steve Ballmer.