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Bloomberg has today revealed that two people with knowledge of the terms regarding the Nokia/Microsoft Partnership announced in Mobile World Congress 2011 earlier last month, have stated that Microsoft will pay Nokia around $1 billion to promote and develop Windows Phone-based handsets as part of their smartphone software agreement. Hit the jump to find out more.

According to Bloomberg, Colin Gillis, an analyst at BGC Partners in New York, who recommends buying Microsoft shares stated, “This gives Microsoft scale and allows Nokia to rip out costs… Microsoft is getting the platform boost that comes from acquiring a Nokia for about a billion dollars.”

Another snippet from the article highlights some key aspects regarding the length of the term which is set to be for more than 5 years, with Nokia to receive a fee for each copy of Windows used in it’s phones:

“Nokia will pay Microsoft a fee for each copy of Windows used in its phones, costs that will be offset as Nokia curtails its own budget for software research and development, said one of the people, who declined to be identified because the final contract hasn’t yet been signed. The agreement runs for more than five years, the people said.”

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