The recent report about Microsoft selling its feature phone business has just got a new episode. According to new information, the Redmond company will sell the phone business to FIH Mobile, a subsidiary of Foxconn, and HMD Global Oy for $350 million.

Included in the deal is Microsoft Mobile Vietnam as well as 4,500 employees, all of its feature phone assets, including brands, software and services, care network and other assets. The deal only includes feature phone business, which is currently using the Nokia brand for phones. Microsoft will continue to develop Windows 10 Mobile and support Lumia phones and Windows Phone devices, but this probably means the end of Lumia smartphones.