Stage I ready for Nokia Smartphone to comeback

Stage I ready for Nokia Smartphone to comeback

Stage I ready for Nokia Smartphone to comeback
Once there was company which used to lead the mobile phone market. Yes, talking about Nokia. Once they were the world’s top mobile phone maker and now they are all set to start ruling the Smartphone market yet again. As the company and its licensee said on Thursday they will be launching Smartphone from the first half of 2017.
Nokia is now a leading telecom equipment maker. They have licensed its brand to HMD Global which is to launch its first Nokia Smartphone products early next year. According to the Finnish company said HMD had received the green light to proceed with production after completing all necessary transactions with its Taiwanese manufacturing partner, FIH Mobile of FoxConn Technology Group, and with US tech giant Microsoft which had bought the unprofitable phone business from Nokia in 2014.
Microsoft’s venture into phone manufacturing cost it US$7.2bil in 2014, but proved short-lived last May, when it said it would sell its feature phone business to HMD Global and FIH Mobile for US$350mil. Microsoft also decided to end its Smartphone manufacturing in Finland, letting go of some 1,350 Smartphone makers and former Nokia employees.
When Nokia sold its phone business to Microsoft, it agreed not to get back into Smartphone until the last quarter of 2016. With the restriction no longer valid next year, HMD can begin making new Smartphone under the Nokia brand.
Nokia said ‘Nokia branded feature phones remain one of the most popular choices of mobile phone in many markets around the world today and HMD will continue to market them… alongside a new range of Smartphone and tablets to be announced later by HMD.’
Nokia is not a shareholder in HMD, but will receive royalty payments for sales of each mobile phone and tablet sold under its brand.