Nokia to re-enter smartphone business

Nokia to re-enter smartphone businessNokia has announced that it will go back to the cell telephone and pill market. As part of an settlement covering branding and highbrow property rights, Nokia technology will supply HMD international Oy its worldwide license. this could allow HMD to create Nokia-branded phones and tablets for the next ten years. In go back. Nokia will obtain royalty bills from HMD for sales of the products. in addition, the new portfolio of devices may be powered by Google’s Android OS. HMD has additionally received the rights to use the Nokia brand on feature telephones, as well as sure design rights from Microsoft. The transaction with Microsoft is expected to shut with the aid of the second 1/2 of 2016.

Ramzi Haidamus, president of Nokia technology said, “nowadays marks the start of an exciting new bankruptcy for the Nokia logo in an industry in which Nokia stays a honestly iconic call. instead of Nokia returning to manufacturing mobile phones itself, HMD plans to provide mobile phones and pills that may leverage and grow the value of the Nokia emblem in international markets. running with HMD and FIH will allow us to take part in one in all the most important patron electronics markets inside the international even as staying proper to our licensing business model.”

HMD plans to make investments more than $500 million over the subsequent 3 years to marketplace the Nokia-branded merchandise. similarly, Nokia could be part of the Board of administrators of HMD and will set “obligatory brand necessities and performance associated provisions”. this is to make sure that the goods fit up to Nokia’s own expectancies in their devices. final 12 months, Nokia CEO, Rajeev Suri, had stated that the company is planning to licence the logo in 2016

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