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Microsoft's US$7.5b lesson in Nokia blunder

US tech giant's new CEO gets credit for swiftly confronting reality and taking the hit to earnings

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Microsoft Corp, which reported its biggest-ever quarterly loss last week, wrote off US$7.5 billion on Nokia's phone unit, which it had bought a little over a year ago for what it said was US$9.5 billion.

New York

MICROSOFT Corp, which reported its biggest-ever quarterly loss last week, wrote off US$7.5 billion on Nokia's phone unit, which it had bought a little over a year ago for what it said was US$9.5 billion.

Considering that the deal included US$1.5 billion in cash, the write-

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