Nokia, one of the most popular phone brands in the world, will make a comeback in first half of 2017 as an Android-based smartphone. Espoo , Finland-based HMD Global has signed a 10-year brand licensing contract with Nokia where it will create new Nokia branded phones, and will own Nokia's existing range of feature phones that are sold across the world. The agreement, signed six months ago and effective from today, also includes tablets.
"With a leading position in feature phones market already, HMD has a significant global foothold including Americas, Europe, Asia, Middle East, Africa, India and China from day one," the company said in a statement Thursday."Driven by the extremely positive reception we have received since HMD was announced earlier this year, we're excited about building the next chapter for Nokia phones," CEO Arto Nummela said.HMD Global and Foxconn completed the acquisition of Microsoft mobile phone business - including feature phones and smartphones - under which Foxconn International Holdings (FIH) will manufacture the devices."I'm sure millions of Nokia fans will be excited to see the new products," said Brad Rodrigues, interim president of Nokia Technologies.Microsoft had bought the mobile phone business from Nokia a two years ago for $7.2 billion, but has since written off about $8 billion on the account of the acquisition and fired hundreds of employees. HMD Global Thursday announced a 10-member global leadership team headed by Samuel Chin, as chairman of the board and founder, who was formerly chairman and CEO of FIH. Most of the leadership executives are former Nokia veterans including chief operating, marketing and finance officers.The company also announced eight regional market heads including Ajey Mehta who will lead the India market as VP. All of the regional marketing heads have been former Nokia executives, just like Mehta who was former India head for Microsoft Mobiles, and before that head of sales for India, Africa and Middle East at Nokia."With our passionate team, start up attitude, a brand with a 95% worldwide awareness and a unique, asset light partnership approach, we believe we are perfectly placed to forge a new way in mobile," said Florian Seiche, President of HMD Global.
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