nokia is set to comeback (2)

According to recent reports, Nokia is returning to the smartphone
market. Microsoft recently announced it’s offloading of Nokia’s old
feature phone business to a Foxconn subsidiary and a Finnish company
called HMD Global.

It has been revealed by Nokia
that HMD is also acquiring the rights to use the Nokia name on
smartphones and tablets for the next ten years. This means the day is
not far when we will see Nokia branded smartphones and tablets run on
According to a statement from HMD, it plans to invest $500 million
over the next three years to develop and promote products.The money will
supposedly come from investors and from profits from the newly-acquired
feature phone business. Though it has been made clear that Nokia’s
involvement in the new devices will be very limited, it will be a part
of HMD’s board and will set mandatory brand requirements and
performance-related provisions.
HMD will be managed by an experienced group of mobile industry
leaders. Arto Nummela, who previously held senior positions with Nokia
and is currently the head of Microsoft’s Mobile Devices business for
Greater Asia, Middle East and Africa as well as Microsoft’s global
Feature Phones business, will serve as CEO on a closing of the Microsoft
HMD’s President on closing will be Florian Seiche, currently Senior
Vice President for Europe Sales and Marketing at Microsoft Mobile, who
previously held leadership roles at Nokia, HTC and other global brands.
Nokia is doing this to ensure that quality handsets are released
because it is the goodwill of Nokia that will be at stake if the devices
are inferior. FIH Mobile, the Foxconn subsidiary will be the
manufacturer of the new HMD smartphones and tablets.
The agreement includes HMD’s access to Nokia’s vast arsenal of mobile
patents. As to when will we get to see the Nokia handsets and tablets
with what version of Android, that is still under wraps.

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