Microsoft acquired Nokia's mobile phone business in 2013 for $7.2 billion in an effort to become a major player in the smartphone market. However, Microsoft struggled to compete with Android and iOS devices. By 2015 Microsoft had written off $7.6 billion of the acquisition cost and laid off thousands of Nokia employees. Microsoft then sold the Nokia brand to HMD Global in 2016. Reasons for the failure included Microsoft entering the market too late, an inability to attract developers or consumers to its Windows platform, and not being able to match Apple or cheaper Android phones on quality and price.