The world’s most popular mobile phone producer at one point of time, Nokia almost disappeared with companies like Apple and Samsung taking its place.
But all is not lost for the Finnish mobile phone manufacturer. The company has just announced that it will be returning to the worldwide mobile phone and tablet market.
Nokia has signed a strategic brand and intellectual property licensing agreement with HMD global to manufacture Nokia branded smartphones, tablets, and feature phones over the next decade. In a press release, Nokia stated that the new line of smartphones would feature an Android operation system, a shift from its earlier phones that featured a Window’s Mobile operation software.
HMD plans to acquire Nokia branding and designs rights from Microsoft, which will make it the sole licensee of Nokia devices. It plans to invest $500 million over a period of three years in the acquired firm to boost marketing globally. The press release went on to suggest that the brand remained one of the most popular mobile phone choices across many markets around the world.”
“We will be completely focused on creating a unified range of Nokia-branded mobile phones and tablets, which we know will resonate with consumers. Branding has become a critical differentiator in mobile phones, which is why our business model is centered on the unique asset of the Nokia brand and our extensive experience in sales and marketing. We will work with world class providers in manufacturing and distribution to move quickly and deliver what customers want,” HMD CEO-designate Arto Nummela said.