HMD Global Is The New Home Of Nokia Phones | TechTree.com

HMD Global Is The New Home Of Nokia Phones

Nokia will receive royalty payments from the sales of every Nokia branded device sold by HMD.

 

Nokia has finalise the deal with HMD Global Oy (HMD) to provide the branding rights and intellectual property licensing. HMD, which is a subsidiary of Foxconn Technology Group has also closed a deal with Microsoft to gain the rights to exclusively use the Nokia brand for next 10 years. In Nokia's deal with Microsoft, the Finnish company offloaded its devices business to the software giant. The deal included a licence to use Nokia brand identity on feature phones. The rights to use Nokia name on the smartphones remained with the Finnish brand.

Under this agreement with HMD, Nokia will receive royalty payments from the sales of every Nokia branded mobile phone and tablet, covering both brand and intellectual property rights. According to the press release, Nokia branded feature phones continue to be popular in many parts of the world and HMD will continue to manufacture them along with smartphones and tablets.

On various occasions, HMD has confirmed that it will be using Google's Android platform for future Nokia phones. The company has also promised to release the first wave of handsets in first quarter of 2017.



On the latest development, Brad Rodrigues, interim president of Nokia Technologies, stated: "We've been overwhelmed by the enthusiasm shown around the world for the return of the Nokia brand to smartphones. The HMD Global team has the ambition, talent and resources to bring a new generation of Nokia branded phones to market, and we wish them every success. I'm sure our millions of Nokia fans will be excited to see their new products!"


TAGS: Nokia

 
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