Finnish telecom system maker Nokia stated Wednesday it plans a worldwide comeback into its former goldmine of handsets and capsules, by means of licensing its logo to a newly-created Finnish agency.
Nokia “will supply HMD worldwide Ltd. the exceptional international licence to create Nokia-branded cell phones and tablets for the next 10 years,” the sector’s former primary handsets agency stated in a assertion.
As a part of the procedure, HMD global and its Taiwanese accomplice, FIH cell of FoxConn era organization, will take over Microsoft’s characteristic cellphone commercial enterprise for $350 million, which it had sold from Nokia in 2014, the united states organisation said in a separate statement.
Nokia changed into the world’s pinnacle cellular smartphone maker among 1998 and 2011 however turned into overtaken by way of South Korean rival Samsung after failing to reply to the fast rise of smartphones.
In 2011, it selected to wager at the windows cellular platform, which proved to be a failure. the brand new product portfolio might be based totally on Android.
The Finnish business enterprise offered its handset unit to Microsoft in 2014 for a few $7.2 billion which dropped the usage of the Nokia name on its Lumia smartphones.
The conditional deal among Microsoft and Nokia’s new brandlicensing partners is predicted to shut in the second half of 2016.
Nokia said the new Finnish agency, HMD global, is a non-public assignment wherein Nokia will now not preserve equity.