Microsoft buys Nokia handset business in what could prove to be a lucrative acquisition for the Redmond, Seattle-based firm.

On Monday, Microsoft announced the completion of the $7 billion acquisition of Nokia's phone business on April 25. Apparently, regulatory issues had delayed the acquisition.

One of Nokia' attractive strengths was its ability to ship its feature phones to many parts of the world with at minimal costs. This is one of the hallmarks that led to the Nokia, since feature phones have very little profit compared to smartphones. And the brand has developed a name of its own

Forbes reports, "The Finns have also had good relations with the carriers, supplying them with handsets that fit their own portfolios as well as Nokia’s, and working with them on software load-outs and branding. Some of that goodwill was carried over to Nokia’s Lumia Windows Phone, although it did feel tempered when compared to the promotion that Nokia received with some of their Symbian OS devices.

While Nokia's feature phones are expected to support Nokia's Lumia smartphones, analysts will be keeping an eye out on the Nokia phone shipments by Microsoft. Just as Nokia had a good network with carriers as an independent entity, the Finnish phone maker is expected to hone in on its brand name to bring in more business for Microsoft.

Meanwhile, Nokia CEO Stephen Elop, once tipped to take the spot of the CEO of Microsoft after Steve Ballmer stepped down. Ballmer came under attack for the Windows Phone division and its lackluster performance. Insider, Satya Nadella was brought to the helm to oversee activities at MSFT.