Microsoft to sell feature phone business to Foxconn subsidiary, HMD Global

(Reuters) - Microsoft Corp said it is selling its entry-level feature phone assets to FIH Mobile Ltd and HMD Global Oy for $350 million. FIH Mobile, a subsidiary of Hon Hai/Foxconn Technology Co Ltd , would also acquire Microsoft Mobile Vietnam as a part of this deal, Microsoft said. The company said its 4,500 employees from Vietnam will transfer to or will have an opportunity to join FIH Mobile or HMD Global Oy.