NSN and Microsoft
Nokia recently (before the MS deal) bought out Siemens from NSN.
Microsoft has only bought a failing phone division. They don't have the Nokia name for new phones (only ones already on the market). They have a 10 year Patent licence. They thus didn't buy any IP.
So Nokia still exists, will have an extra 7 Billion (approx) and what exactly has MS got? The existing products, and a licence. Not even the brand for the future. A better deal than Ericsson got from Sony (who unlike MS have in the past sold a very wide range of consumer products successfully, though have made some grave mistakes). MS: The mouse, Kinect and Xbox (and overall no profit). The vast bulk of MS profit has always been OEM and Business, despite a retail presence.
Microsoft becoming a combination of Google & Apple seems as likely as IBM succeeding in TV, BD player and Mobile phone / Tablet sales.
MS even managed to lose the OEM set box market and earlier PDA markets and previous Windows Phone which once before Apple iphones etc was over 20%. Zune, Kin all failures. Surface Pro (x86) and Surface RT (ARM) both failures. Dedicated OEM Media Centres based on XP a failure. XP Tablet a failure outside niche markets.
BT even remote "upgraded" existing users set-boxes from WinCE to Linux!