Microsoft's mobile surrender (MSFT)

Early Wednesday morning, Microsoft announced further reductions to its smartphone hardware business, including the elimination of up to 2,000 jobs, mostly in Finland, where Nokia was based. This is on top ofmore than 25,000 layoffs related to its smartphone business since it bought Nokia in 2014.This chart from Statista shows why. Global market share for Microsoft's phone platformsdipped below 1% in Q1 2016. That's barely a footnote.Microsoftstill has opportunities in mobile computing. It can sell mobile versions of otherapps and services for Android and iOS, and can sell software and services to help large organizations manage their mobile phones. But as far as putting Windows on phones, or making a dent in the phone business, it's over.SEE ALSO:The company behind the Angry Birds movie desperately needs it to be a hitJoin the conversation about this storyNOW WATCH: Virtual reality could help the stock market reach all-time highs in 2016 and 2017
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