This is news a lot of people have been waiting to hear. Nokia Smartphones will make a mega comeback in a brand licensing deal made by the Finnish company with HMD Global Ltd. to manufacture Android based Nokia branded handsets for the next 10 years.
HMD Global and its Taiwanese partner, FIH Mobile of FoxConn Technology Group, will take over Microsoft’s feature phone business for $350 million, which Microsoft had bought from Nokia in 2014.
When Microsoft bought over Nokia,in 2014, for US $7.2 Billion, the Redmond based computing giant dropped the name “Nokia” and continued to use the name Lumia. Microsoft had acquired rights to use the Nokia brand in smartphones for two years which the company let go of much earlier.
The new venture “Nokia” will now manufacture Android OS based handsets along with Tablets and will also continue to manufacture feature phones under the brand and expertise of Nokia.
Nokia has a big market to penetrate with veterans like Samsung and HTC, and many new Chinese companies ruling the eco-system.
The Nokia brand still has a strong legacy and is sure to get the attention it deserves at comeback.