Nokia teams up with Microsoft to take on Apple

City A.M. Reporter
Nokia and Microsoft have teamed up to take on Google and Apple in the fast-growing smartphone market using Windows Phone as the software platform for its smartphones as part of new chief executive Stephen Elop's overhaul of the world's biggest cellphone maker.

Nokia has rapidly lost share in the higher-margin smartphone market to the likes of Apple's iPhone, and products based on Google' Android platform claimed the top spot from the company last quarter.

In a bid to stem the losses, chairman Jorma Ollila brought in Elop from Microsoft last September. The 47-year-old is the first non-Finn to head the company.