Market Chatter: Microsoft Reportedly Speeds Up Efforts To Bring Its Office Software To Mobile

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Microsoft (MSFT) is accelerating its efforts to bring its Office software suite to tablets and mobile because of increasing competition from cheaper new word processing apps, Reuters reported.

The company already has Office versions ready for release for iPhone and iPad but final approval has not been given by new CEO Satya Nadella, Reuters, citing unnamed sources.

Reuters said that according to one analyst estimate, Microsoft is missing out on $2.5 billion in annual revenue by its slow move toward mobile for Office.

In the meantime, new apps such as Haiku Deck, Paper, Quip, plus Google Apps, are “nibbling away” at Office’s potential word processing market on mobile, according to Reuters.

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