Nokia ready for smartphone comeback in 2017

AFP, HELSINKI: Nokia, once the world's top mobile phone maker, will make a comeback on the smartphone market in the first half of 2017, the company and its licensee said yesterday.
Nokia, which is now a leading telecom equipment maker, has licenced its brand to HMD Global which is to launch its first Nokia smartphone products early next year.
The Finnish company said HMD had received the green light to proceed with production after completing all necessary transactions with its Taiwanese manufacturing partner, FIH Mobile of FoxConn Technology Group, and with US tech giant Microsoft which had bought the unprofitable phone business from Nokia in 2014.
"HMD can begin operations as the new home of Nokia phones, under an exclusive global brand license for the next ten years," excluding Japan, Nokia said in a statement.
Microsoft's venture into phone manufacturing cost it $7.2 billion in 2014, but proved short-lived last May, when it said it would sell its feature phone business to HMD Global and FIH Mobile for $350 million (329.4 million euros).

Nokia ready for smartphone comeback in 2017

AFP, HELSINKI: Nokia, once the worlds top mobile phone maker, will make a comeback on the smartphone market in the first half of 2017, the company and its licensee said yesterday. Nokia, which is now a leading telecom equipment maker, has licenced its brand to HMD Global which is to launch its first Nokia smartphone products early next year. The Finnish company said HMD had received the green light to proceed with production after completing all necessary transactions with its Taiwanese manufacturing partner, FIH Mobile of FoxConn Technology Group, and with US tech giant Microsoft which had bought the unprofitable phone business from Nokia in 2014. HMD can begin operations as the new home of Nokia phones, under an exclusive global brand license for the next ten years, excluding Japan, Nokia said in a statement. Microsofts venture into phone manufacturing cost it $7.2 billion in 2014, but proved short-lived last May, when it said it would sell its feature phone business to HMD Global and FIH Mobile for $350 million (329.4 million euros).