Nokia is set to reclaim its glory back in golden days. It is set to make a comeback with a new range of smartphones in 2017. According to Mirror UK, HMD has confirmed that the new range of devices will be powered by Google's Android operating system. It has dominated the market by having 86% of the smartphone market share.
A newly formed HMD Global Oy and Nokia Technologies signed a strategic partnership in May, granting the former the sole use of the brand and patent licensing in the next 10 years. HMD is founded to provide a new generation of Nokia-branded phones and tablets. One of the most vital roles in today's very competitive technology market is Research and Development.
FIH Mobile, a consumer electronics company, is said to be the one to manufacture the Nokia-branded devices as well as future research and development. "Nokia has been one of the most iconic and recognizable phone brands globally for decades," said Arto Nummela, CEO of HMD Global. Nokia was and has always been known for being brilliant in seeing opportunities to solve real-life consumer problems and deliver quality and designs. This makes HMD excited in re-introducing the much loved, well known and trusted brand to the market next year.
In 2014, Microsoft acquired Nokia's mobile phone business for $7.17 billion - an unsuccessful acquisition. They were forced to sell the iconic brand this year due to declining sales of future phones. A conditional deal entered by HMD and Microsoft to acquire the latter's rights to use the Nokia trademark on devices until 2024 was announced in May this year. According to the agreement, the sole control over the sales, marketing, and distribution of the new Nokia-branded phones and tablets is with HMD.
As formerly stated, HMD would be spending $500 million investor funding over the next three years to market the new device globally. Now that Nokia is set to reclaim its glory in 2017, the question is "Will it meet the consumers' expectations?"