"Its device business now gone, Nokia's plan is to focus on three core technologies: NSN (its network infrastructure) HERE (its maps and location-based services); and Advanced Technologies (a licensing and development arm)."[1]

It'll still exist. Most of the top executives are moving to Microsoft as part of the deal though.

I am curious if this deal required shareholder consent of any type. I'm sure the board had to approve. Still I don't know how I'd feel if I was holding onto a decent chunk of Nokia stock right now and I didn't get any say in selling out our core business.

[1]http://www.theverge.com/2013/9/2/4688530/microsoft-buys-noki...