Hugh Pickens DOT Com writes: BBC reports that Microsoft has agreed a deal to buy "substantially all" of Nokia's mobile-phone business for $7.2 billion in a deal that will also see Nokia license its patents to Microsoft. "We believe this transaction is the best path forward for Nokia and its shareholders," says Risto Siilasmaa, chairman of the Nokia Board of Directors. "But what definitely are surprises are the timing and the price," writes Tero Kuittinen at Forbes. "It’s a particularly stunning turn as it seemed that Nokia had finally turned the corner with its Lumia smartphone business literally just months ago." Boosted by its sub-$150 price, the Lumia 520 and its sibling models have recently enjoyed substantial momentum in South-East Asia and even at T-Mobile and AT&T in North America but it could be that the latest wave of $100-130 smartphones from Google’s Asian allies has pushed Nokia’s feature phone business into such a tail spin that immediate measures were necessary. "It is possible that the feature phone sales collapse has turned into such a red rout that Nokia felt it had to push the panic button right now."