Investors in the tech space could face some serious buyers' remorse when they look at Finnish telecom giant Nokia's (NYSE:NOK) performance in 2013.
After being more or less left for dead over the last few year, Nokia's shares continued their rally throughout 2013.
Nokia's very big year
2013 certainly ushered in plenty of change for Nokia. By far the most important event that drove Nokia shares this year was the deal it struck with recent partner and software giant Microsoft (NASDAQ:MSFT).
After becoming the key supplier of Windows Phone software, Microsoft and Nokia struck a deal in September in which Microsoft would purchase Nokia's famous handset business for $7.2 billion in cash. As you could imagine, the Microsoft deal had a huge effect on Nokia's shares, sending them surging.
However, the deal also leaves Nokia in search of a new course forward with the remainder of its business lines. Thankfully, as the result of several moves Nokia appears poised to make a serious run at breaking into the communications networking space in which it's struggled over the last several year.
In this video, tech and telecom analyst Andrew Tonner looks at the most significant storylines that drove Nokia in the last year.
Fool contributor Andrew Tonner has no position in any stocks mentioned. The Motley Fool owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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