You can buy Nokia brand of smartphones and tablets soon.
Nokia brand had disappeared from the global smartphone and tablet market following the acquisition of Nokia phone business by software major Microsoft.
Nokia Technologies today said it will offer HMD, a newly founded company based in Finland, an exclusive license to create Nokia-branded mobile phones and tablets for the next ten years.
Nokia will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights.
HMD has agreed to acquire from Microsoft the rights to use the Nokia brand on feature phones, and certain related design rights. The Microsoft transaction is expected to close in H2 2016.
HMD aims to invest over $500 million over the next three years to support the marketing of Nokia-branded mobile phones and tablets, funded via its investors and profits from the acquired feature phone business.
HMD’s new smartphone and tablet portfolio will be based on Google Android OS.
Meanwhile, FIH Mobile, a subsidiary of Foxconn Technology Group, will buy Microsoft’s feature phone business assets, including manufacturing, sales and distribution.
HMD and Nokia Technologies signed an agreement with FIH to give HMD full operational control of sales, marketing and distribution of Nokia-branded mobile phones and tablets, with access to the sales and distribution network, access to FIH’s device manufacturing, supply chain and engineering capabilities.
Arto Nummela will be the CEO of HMD. Arto Nummela previously held senior positions at Nokia and is currently the head of Microsoft’s Mobile Devices business for Greater Asia, Middle East and Africa, as well as Microsoft’s global Feature Phones business.
Florian Seiche will be HMD’s president. Florian Seiche is currently senior vice president for Europe Sales and Marketing at Microsoft Mobile, and previously held key roles at Nokia, HTC and other global brands.
