Microsoft to seal takeover of Nokia's handset business

Microsoft will complete its acquisition of Nokia's handset business this Friday, according to a Microsoft's statement, thus ushering a new chapter for Nokia.

In total, Microsoft will wrap up 5.4 billion euro ($7.5 billion) for the takeover this coming Friday.

"The completion of this acquisition follows several months of planning and will mark a key step on the journey towards integration," Microsoft said in Monday's statement.

Industry-watchers believe that this deal could open "a new chapter" for Nokia, rather than closing the book on the company.

With its market share greatly eroded, Nokia, once a giant of mobile phone business, fell victim of intense competition from its rivals Apple and Samsung.