Simple cell phones can make a comeback
Nokia wants to go back to the smartphone business: a comeback as a brand
The network supplier Nokia wants to get back into the smartphone business - at least as a brand. For this purpose, the former Finnish mobile phone manufacturer transferred the exclusive rights to the traditional name to HMD Global, which was also newly founded in Finland. HMD will be able to manufacture and sell cell phones, smartphones and tablets under the Nokia brand for the next ten years.
Nokia Technologies received corresponding royalties for property rights and the use of the brand name, according to the press release. Microsoft took over the smartphone business from Nokia in 2013, Nokia kept the network business and card services. Microsoft now sells the Lumia model series under its own name.
HMD also wants to market simple mobile phones (feature phones) under the Nokia brand and has acquired the rights from Microsoft for them. The business with key cell phones with some of the additional functions known from smartphones, such as photography and social networks, are still very popular in many markets around the world, it said.
Foxconn subsidiary takes over production
Nokia is also separating from the rest of its feature phone business. Production, sales and distribution go to the Foxconn subsidiary FIH, which is also taking over the company's production facility in Hanoi, Vietnam. In total, the transaction is valued at $ 350 million. While Microsoft wants to further develop its Windows 10 Mobile radio system, Nokia smartphones are likely to run with the Google Android operating system in the future.
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