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(AP) - In a summary Nov. 19 of a story about Nokia, The Associated Press reported erroneously that the company's shareholders had approved the sale of a portfolio of patents to Microsoft as well as the ailing cellphone and services division. In fact, Nokia is selling a license to a portfolio of patents as well as the cellphone and services division.
GOT THE OK: Nokia shareholders approved the sale of the ailing cellphone division and a license to a portfolio of patents and services to Microsoft Corp. for 5.4 billion euros ($7.2 billion).
BACK STORY: The Finnish phone maker's global market share shrank as it battled stiff competition from Apple and Google in the lucrative smartphone trade and from cheaper manufacturers in Asia.
UP NEXT: Following the sale, expected in early 2014, Nokia will be known as Nokia Solutions and Networks and will focus on providing technology used by mobile devices for the transfer of data, including phone calls, video and connecting to the Internet.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
