Nokia will soon be back in the business of “Connecting People.”
World famous Finnish telecom equipment maker, Nokia, has announced that it is planning global comeback into its former goldmine of handsets and tablets, by licensing its brand to a newly-created Finnish company.
In a statement, Nokia said it “will grant HMD Global Ltd. the exclusive global licence to create Nokia-branded mobile phones and tablets for the next 10 years.
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.
The firm bought the business from Nokia in 2014, HMD said in a separate statement.