By Marcus Leach

Nokia and Microsoft have announced the signing of a definitive agreement on a partnership that will result in a new global mobile ecosystem, utilising the very complementary assets of both companies.

Completed ahead of schedule, the definitive agreement is consistent with the joint announcement made on February 11.

In addition to agreeing to the terms of their partnership, including joint contributions to the development of the new ecosystem, Nokia and Microsoft also announced significant progress on the development of the first Nokia products incorporating Windows Phone.

With hundreds of personnel already engaged on joint engineering efforts, the companies are collaborating on a portfolio of new Nokia devices. Nokia has also started porting key applications and services to operate on Windows Phone and joint outreach has begun to third party application developers.

"At the highest level, we have entered into a win-win partnership," said Stephen Elop, President and CEO of Nokia Corporation.

"It is the complementary nature of our assets, and the overall competitiveness of that combined offering, that is the foundation of our relationship."

"Our agreement is good for the industry," said Steve Ballmer, CEO of Microsoft.

"Together, Nokia and Microsoft will innovate with greater speed, and provide enhanced opportunities for consumers and our partners to share in the success of our ecosystem."