Microsoft
yesterday threw in the towel in its attempt to become a leading player in the smartphone world, writing down almost the entire value of its Nokia handset acquisition and announcing sweeping job cuts.
The moves will lead to a hit to profits of as much as $8.5bn, topping the $6.2bn charges it took three years ago on a failed acquisition in digital advertising. They also involve the loss of 7,800 jobs, most of them in the handset division, which had been hit hard in a company-wide cull of 18,000 positions last year.
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