Nokia, formerly the world’s top mobile phone maker once, on 25 may publicized its return to the ferociously reasonable handsets and tablets market years after being crumpled there by Apple and Samsung.
Nokia, which is now an important telecom equipment maker, said it would license its brand to a new Finland corporation which will make phones and tablets below the Nokia brand name.
The brand new corporation, HMD Global has been created to provide an absorbed, independent home for a full range of Nokia named feature phones, smartphones and tablets.
As part of the procedure, HMD Global FIH Mobile of FoxConn Technology Group, will take over Microsoft’s feature phone business for 310.5 million euros. The USA company had bought the commercial from Nokia two years ago.
Nokia was the world’s top phone maker from 1998 until 2011 when it starts manufacturing with Microsoft’s Windows mobile platform which proved to be a big loss. Experts say the corporation failed to grip the growing position of smartphone applications related to hardware. The new invention portfolio will be based on Android.
The Finland corporation sold its lossmaking phone unit in 2014 for some $7.2 billion to tech giant Microsoft, which released the Nokia name from its Lumia smartphone handsets.
Temporarily Nokia has focused on rising its mobile network equipment corporate by acquiring its French-American rival Alcatel-Lucent.
With the brand new deal, Nokia senses some new incomes from its still valued consumer-brand, without having to bear the monetary risks linked to it.
Working with HMD and FIH will let Nokia participate in one of the largest consumer electronics markets in the world while continuing true to Nokia licensing corporate model.
HMD company is a private project in which Nokia will not hold justice. But the corporation is well-stacked with former Nokia administrators.
Nokia’s share advanced 2.2 percent on Helsinki stock exchange.