Nokia, once the world’s top mobile phone maker, will make a comeback on
the smartphone market in the first half of 2017, the company and its
licensee said .
Nokia, which is now a leading telecom equipment maker, has licenced
its brand to HMD Global which is to launch its first Nokia smartphone
products early this year.
The Finnish company said HMD had received the green light to proceed
with production after completing all necessary transactions with its
Taiwanese manufacturing partner, FIH Mobile of FoxConn Technology Group,
and with US tech giant Microsoft which had bought the unprofitable
phone business from Nokia in 2014.
Microsoft’s venture into phone manufacturing cost it $7.2 billion in
2014, but proved short-lived last May, when it said it would sell its
feature phone business to HMD Global and FIH Mobile for $350 million
(329.4 million euros).
Microsoft also decided to end its smartphone manufacturing in
Finland, letting go of some 1,350 smartphone makers and former Nokia
employees.
When Nokia sold its phone business to Microsoft, it agreed not to get
back into smartphones until the last quarter of 2016. With the
restriction no longer valid next year, HMD can begin making new
smartphones under the Nokia brand.
“Nokia branded feature phones remain one of the most popular choices
of mobile phone in many markets around the world today and HMD will
continue to market them… alongside a new range of smartphones and
tablets to be announced later by HMD,” Nokia said.
Nokia is not a shareholder in HMD, but will receive royalty payments
for sales of each mobile phone and tablet sold under its brand.
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