|By Aaron Sims | 5 years ago|
Microsoft has a lot on its plate at the moment, and apparently, making mobile phones is not one of them. The corporation announced last week that it plans to restructure its phone hardware business to better utilize resources elsewhere in the company. According to a press release from the company, the phone business is slated to lose up to 7,800 jobs as a result of the restructuring.
The company will record an impairment charge of nearly $7.6 billion, in relation to assets related to the acquisition of the Nokia Devices and Services business. The company will also pay a restructuring charge of up to $850 million.
Microsoft has been keeping busy in other areas, though. It is currently trying to focus on transferring the company’s imagery acquisitions operations to Uber, and is working on shifting its display advertising business. Microsoft is making all of these changes so that it can invest more heavily in search as its main advertising technology and service.
Microsoft plans to finish the overhaul of its phone business by the end of the year, when it plans to record a charge in its fourth quarter statement for the impairment of assets and goodwill in its phone hardware business.
It seems like Microsoft has more important things to focus on for now, but they said that they will keep a core division on deck in case they feel the moment to expand arises.