Finland 's Nokia , once the undisputed leader in mobile phones , smartphone manufacturers such as Apple and Samsung have been struggling to respond to the challenge .
Analysts say Microsoft's unproven Windows Phone software in 2011 to adopt the bold bet Elop says yet to pay off .
The deal is expected to close in the first quarter of 2014 Nokia and is subject to approval by shareholders and regulatory approvals . Nokia has partnered with Microsoft in 2011 and your mobile phone uses to run Microsoft's Windows software .
"This is a bold step into the future - employees, shareholders and consumers, a win for both companies , " Microsoft's outgoing CEO Steve Ballmer said in a statement .
When the deal was concluded Nokia Elop, senior executives who Harlow , Juha Putkiranta, Timo Toikkanen, and Chris Webber , Microsoft said in a statement that the transfer is expected . Microsoft will take over the roles they did not do it .
Finnish firm looked for a new CEO , Risto Siilasmaa , Chairman of the Nokia Board will take over the CEO duties , it said.
Elop, a Canadian Microsoft hired by Nokia in 2010 , when Microsoft's Ballmer to step down as chief has been one of the favorites to take over .
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