Nokia is struggling to survive after huge losses . Now it has sold around 500 patents and Qt software to bolster its fast draining cash reserves .
Nokia already cut around 10,000 jobs as a part of restructuring programme in June to reduce the losses . Now Nokia has sold Qt software to Digia , which it acquired in 2008 for about $150 million . The sale value is not disclosed but it is much less than what Nokia paid for it in 2008 .
Qt software was a central part of Nokia’s strategy until 2011 when it decided to swap its own smartphone software for Microsoft’s Windows Phone. The software is used by more than 450,000 developers for making applications for some 70 industries, including automotive, medical, industrial automation and defence.
Nokia has also sold around 500 patensts to Vringo . The patent deal nets Nokia $22 million, while still leaving it with one of the strongest portfolios in the wireless industry. If the patents yield mroe than $22 in revenues , Nokia will collect a further payment of 35% of income .
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Nokia already cut around 10,000 jobs as a part of restructuring programme in June to reduce the losses . Now Nokia has sold Qt software to Digia , which it acquired in 2008 for about $150 million . The sale value is not disclosed but it is much less than what Nokia paid for it in 2008 .
Qt software was a central part of Nokia’s strategy until 2011 when it decided to swap its own smartphone software for Microsoft’s Windows Phone. The software is used by more than 450,000 developers for making applications for some 70 industries, including automotive, medical, industrial automation and defence.
Nokia has also sold around 500 patensts to Vringo . The patent deal nets Nokia $22 million, while still leaving it with one of the strongest portfolios in the wireless industry. If the patents yield mroe than $22 in revenues , Nokia will collect a further payment of 35% of income .
Source