After Microsoft announce the purchase of its handset business, the unveiling of the newest smartphone from Nokia is a watershed event for the future of the company.

The search for the new head of Microsoft would be a closely-watched development in the technology industry.

Microsoft allows Xbox music service to iOS and Android devices. In its latest move, Microsoft is allowing its Xbox Music service available to its Android and iOS devices in order to better compete with iTunes services from Apple, as well as Spotify Ltd and Pandora Media Inc.

Microsoft Corp had been acquiring and investing in companies in the last two decades as the software maker planned to accelerate its presence in a market that it does not own.

Reuters Factbox showed Microsoft's acquisitions and investments over the years had not been very lucrative for the company.

Nokia had its focus redirected on network equipment manufacturing after it sold its handset units to Microsoft Corp.

The announcement of Nokia selling its handset unit to Microsoft Corp. had left hedge funds rushing to unwind their bets, leaving the Finnish company to score a record gain per day.

American Express was said to compete for a stake in Foursquare Labs. American Express Co. had been reported to compete for an equity stake in Foursquare Labs.

Nintendo announced on Wednesday that the company will give a USD50 discount on its high-priced Wii U consoles and would be offering a new low-priced console.

CEO Steve Ballmer had announced resignation from Microsoft leaving the company with no apparent heir.