Nokia could soon be the largest maker of mobile phone network equipment in the world ahead of Ericsson and Huawei. It just acquired French telecom equipment maker Alcatel-Lucent for 15.6 billion euros ($16.6 billion), or more than double the $7 billion Microsoft paid for its Windows Phone handset arm. The Finnish company also acquired Alcatel-Lucent's famous Bell Laboratories (established by Alexander Graham Bell in 1880) along with its numerous patents. With three major labs altogether, Nokia said "the combined company will be in a position to accelerate development of future technologies including 5G... as well as sensors and imaging." The merged businesses will run under the Nokia banner, but Bell Labs will keep the Alcatel-Lucent name.