A Company with the promise of connecting people was faded during a past few years, This Logo If you remember, its NOKIA, the brand which was once famous with starting of wireless phone and games in it, we used to love that, we used to think we are the gamer's of the new mobile world and none other company was there to defy it, but since the Smartphones started the NOKIA company was faded and washed away like sand. and now its coming back with its first ANDROID phone.
Finnish telecom equipment maker Nokia said Wednesday it plans a global comeback into its former goldmine of handsets and tablets, by licensing its brand to a newly-created Finnish company.
Nokia "will grant HMD Global Ltd. the exclusive global licence to create Nokia-branded mobile phones and tablets for the next 10 years," the world's former number one handsets company said in a statement.
As part of the process, HMD Global and its Taiwanese partner, FIH Mobile of FoxConn Technology Group, will take over Microsoft's feature phone business for $350 million, which it had bought from Nokia in 2014, the US company said in a separate statement.
Nokia was the world's top mobile phone maker between 1998 and 2011 but was overtaken by South Korean rival Samsung after failing to respond to the rapid rise of smartphones.
In 2011, it chose to bet on the Windows mobile platform, which proved to be a failure. The new product portfolio will be based on Android.
The Finnish company sold its handset unit to Microsoft in 2014 for some $7.2 billion which dropped using the Nokia name on its Lumia smartphones.
The conditional deal between Microsoft and Nokia's new brandlicensing partners is expected to close in the second half of 2016.
Nokia said the new Finnish company, HMD Global, is a private venture in which Nokia will not hold equity.
Nokia has now signed a 10-year licensing deal with a Finnish company HMD Global Oy, which is a subsidiary of Taiwan’s Foxconn that manufactures iPhones.
We always dreamed of an ideal Nokia Android phone, and it’s finally happening! The new smartphone and tablet will be based on Android. HMD will be pumping in $500 million for the next three years for Nokia to manufacture the said Android phones.
Nokia "will grant HMD Global Ltd. the exclusive global licence to create Nokia-branded mobile phones and tablets for the next 10 years," the world's former number one handsets company said in a statement.
As part of the process, HMD Global and its Taiwanese partner, FIH Mobile of FoxConn Technology Group, will take over Microsoft's feature phone business for $350 million, which it had bought from Nokia in 2014, the US company said in a separate statement.
In 2011, it chose to bet on the Windows mobile platform, which proved to be a failure. The new product portfolio will be based on Android.
The Finnish company sold its handset unit to Microsoft in 2014 for some $7.2 billion which dropped using the Nokia name on its Lumia smartphones.
The conditional deal between Microsoft and Nokia's new brandlicensing partners is expected to close in the second half of 2016.
Nokia said the new Finnish company, HMD Global, is a private venture in which Nokia will not hold equity.
Nokia has now signed a 10-year licensing deal with a Finnish company HMD Global Oy, which is a subsidiary of Taiwan’s Foxconn that manufactures iPhones.
We always dreamed of an ideal Nokia Android phone, and it’s finally happening! The new smartphone and tablet will be based on Android. HMD will be pumping in $500 million for the next three years for Nokia to manufacture the said Android phones.
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