Microsoft CEO Steve Ballmer was not a bad CEO. That said, he did make some pretty big mistakes that set the company back very far in the realm of mobile computing technology. Ballmer’s final blunder as CEO of Microsoft was his decision to pay $7.2 billion to acquire Nokia’s handset division back in 2013. It goes without saying that this move hasn’t exactly paid off for Microsoft so far and now The New York Times is reporting that it could cost the company billions more in lost revenue.
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The Times has talked with some analysts who say that “Microsoft may soon acknowledge missteps in the smartphone business with a large write-down of the value of its Nokia acquisition.” The write-down is expected to cost several billions of dollars and could be announced as soon as this month before the company releases its most recent earnings report.
The Times also reports that Microsoft is set to conduct another big round of layoffs, with the company’s hardware division in particular taking a big hit. The writing has been on the wall for this since last month when former Nokia CEO Stephen Elop stepped down from his position as the head of Microsoft’s devices unit.