Newly Founded Company Set to Create New Line of Nokia Phones
If you are missing having a Nokia phone, then you will be happy to know that a new company is planning on restarting production. HMD global Oy ("HMD") is a newly founded company created for the sole purpose of bringing back Nokia branded phones and tablets. Based in Finland, the company has just signed a licensing agreement with Nokia Corporation to be the sole provider of Nokia phones and tablets for the next decade, according to Yahoo Finance.
The company is hoping to bring a better image to Nokia phones and tablets, which fell behind in the markets many years ago. Microsoft is the current owner of the Nokia brand and logo trademark, which the licensed to HMD for use until 2024. While HMD is a newly founded company, they plan on investing 500 million dollars into the development of the devices in the next three years with hopes of becoming a major player in the mobile technologies industry once again.
[Image Source: Flickr/ John]
The CEO of HMD Global said the following in a statement,
"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 manufacturing and distribution providers to move quickly and deliver what customers want."
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