The biggest smartphone manufacturer in the world, Amazon, has announced plans to buy Nokia’s smartphone business.
The purchase will give Amazon a global smartphone empire that includes the Kindle Fire, the Amazon Echo, and Amazon’s Prime service.
It will also allow Amazon to leverage its vast network of data centers to run a more advanced version of its cloud computing services.
In a statement, Amazon CEO Jeff Bezos said he is “excited” about the acquisition and believes it will lead to significant economic and organizational benefits for the company.
“As a leader in innovation, we have been committed to supporting and expanding our cloud computing platform,” he said.
“The acquisition of Nokia will create a platform that will enable us to accelerate the delivery of our services, while delivering a significant increase in revenue and profit.”
The deal is expected to close in the first half of 2021, with the transaction expected to generate between $8.5 billion and $9.5bn for Amazon.
The price of the deal has not been disclosed.
The acquisition will be a significant boost for the mobile tech giant, which has been struggling to gain traction in the smartphone space.
Its smartphone business, the Kindle business, has been largely dormant for years.
The Kindle Fire tablet, however, has begun to see more interest as it has begun appearing in stores.
The Echo is currently one of the most popular devices on Amazon’s Echo Dot, which was recently updated with Alexa voice recognition.
And Amazon is expected at some point to launch its own home and office speaker line, with some executives speculating the company might launch a line of speakers aimed at businesses in the future.
Amazon has been a long-time champion of the cloud, which it claims will make its services easier and faster to use.
But as the company has become increasingly successful in cloud computing, many analysts have wondered if the company could eventually turn its back on the platform altogether.
Nokia has been around for nearly a century, but has struggled to find sustained success in the industry.
The Finnish company’s smartphone sales have been lackluster for many years, while its tablet business has been plagued by delays.
The company also has struggled with a high rate of sales declines in recent years.
Nomura analyst Rohan Mistry said the sale of Nokia’s handset business was a “big loss” for Nokia.
“Amazon’s acquisition of the Finnish handset business and the Amazon Prime service are huge opportunities for Nokia,” he wrote in a research note.
“Nokia was already losing ground to Apple and Samsung in the mobile handset market and was now facing a new competitor.”
In the smartphone market, Apple’s iPhone has taken over as the most successful smartphone brand.
Its smartphones have become the top-selling brand in the U.S. market and have been in the top five of sales in the global smartphone market for some time.
And Samsung’s Galaxy line has been able to expand the range of products with the help of its Galaxy Note line, which launched in 2011.
Nokias devices are still a small part of the smartphone industry, with most of the company’s devices sold through third-party sellers.
The Nokia brand is the only one that has been truly successful in the space, Mistry wrote.
Nelson has been focusing on the business of smartphones for the past few years, and it is likely that the deal will bring some major new features to the company, including a more powerful processor and a faster processor that will allow for better graphics and more immersive video.
But the acquisition will also likely cause a change in the way Nokia sells its devices, according to analysts.
Mistry noted that the company would need to continue to invest in new devices, but said it would be difficult for Nokia to keep doing this without the help from its partners.
“We think the current market conditions will be favorable for Nokia in the long run,” he added.
“But there are some very important hurdles to overcome.”