The world's largest mobile phone maker, Nokia, and U.S. software giant Microsoft say they are teaming up in an attempt to take on Google and Apple in the fast-growing smartphone market.
Nokia said that it will use Microsoft's Windows phone software in its smartphones and that this would speed up new product launches. The company's new chief executive, Stephen Elop, said the partnership would mean job cuts around the world, while research and development spending would also be reduced.
Elop was brought in to head Nokia from Microsoft in September to try to reverse the company's flagging fortunes in the mobile phone market.
Nokia's share of the smartphone segment fell to 31 percent in the fourth quarter last year from 38 percent the previous quarter.
compiled from agency reports