Nokia was once a huge mobile brand, this Finland-based company was the top cellphone manufacturer in a world for a while, but along the way something went wrong and they lost their way. Nokia was unable to maintain their success in the smartphone market, as they've been hanging on to Symbian OS for far too long, and their MeeGoo OS came too late. Nokia then made another mistake by signing and exclusivity agreement with Microsoft, which eventually resulted in Nokia having to sell their Devices and Services business to Microsoft.
Many people thought that's the end of Nokia as a brand, but the company managed to introduce an Android-powered tablet since then, and is working hard to rebuild the brand. Nokia is still not allowed to manufacture smartphones though, they'll be eligible to do that at some point in 2016. That being said, Nokia has agreed to purchase Alcatel-Lucent back in April, a company which they believe will help them get on the rigth path. The buyout still didn't go thorough though, it has to be approved by a number of regulatory agencies, and it is expected to be finalized in Q1 2016.
The European Commission has already approved the deal back in July, and it seems like the Competition Commission of India just did the same thing. The commission has approved the deal, as they don't see no harm in it, and don't believe that it'll adverse impact on competition in the country. "While Nokia is present in the mobile infrastructure segment, Alcatel's India operations mainly relate to fixed line services, with some operations in the mobile infrastructure segment. There are overlaps within the mobile infrastructure segment. However, in view of the fact that the proposed combination is unlikely to cause an appreciable adverse effect on competition in any of the above-mentioned segments," said CCI.
There you have it, another regular has approved the deal, and we're waiting for some more info regarding this whole case. As a side note, Nokia will pay around $17 billion for this deal once it goes through, Stay tuned for more details, we're report back soon.