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Finally, the forgotten hero in the Android world is making its way into the market. Can it be a giant killer this time?
Nokia Comeback – Nokia signed strategic brand and intellectual property licensing agreement with HMD global to create new generation of Nokia-branded mobile phones and tablets. HMD is a new private venture founded to create a new generation of Nokia-branded mobile devices & it’s based in Finland.
HMD’s new smartphone and tablet portfolio under the brand name ‘Nokia’ will be based on Android OS.
Nokia Technologies will grant HMD global an exclusive global license to create Nokia-branded mobile phones and tablets for the next ten years. Under the agreement, Nokia Technologies will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights.
HMD has conditionally 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 second half of 2016. Together these agreements would make HMD the sole global licensee for all types of Nokia-branded mobile phones and tablets.
HMD intends to invest over USD 500 million over the next three years to support the global marketing of Nokia-branded mobile phones and tablets.
The remainder of Microsoft’s feature phone business assets, including manufacturing, sales and distribution, would be acquired by FIH. HMD and Nokia Technologies have signed an agreement with FIH to establish a collaboration framework to support the building of a global business for Nokia-branded mobile phones and tablets.
HMD would be led by Arto Nummela as CEO, who 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.
Nokia signs strategic brand and intellectual property licensing agreement enabling HMD global to create new generation of Nokia-branded mobile phones and tablets