The once glorious empire of Nokia is all set for a grand entrance anytime soon. The news is official and confirmed. This time around, Nokia is going to try its hands in the Android segment.
To make this happen, a new company called HMD Global Oy has been formed. It is based in Finland and is headed by Arto Mummela as its CEO. Arto was a senior exec of Nokia in his past is managing a big chunk of Microsoft phone divisions now. The measures for the rebirth are going on as the contract from Microsoft not to use the Nokia brand name ends this year. The Mishandling of the Nokia Mobile by Microsoft officially ended on May 18, 2016.
Nokia will reportedly take its place among the Board of Directors to set standards for the brand requirements and performance. It will ensure “that all Nokia-branded products exemplify consumer expectations of Nokia devices, including quality, design and consumer-focused innovation.”
HMD, in return, will pump $500 million for the global marketing of the brand to revitalize the name of the kingdom, which has been quite cooling off recently due to years of inactivity. The marketing plan spreads over the next three years.
Another company called the FIH Mobile Limited, a subsidiary of Foxconn/Hon Hai, is set to acquire the rights of Nokia Mobile (Feature Phones), along with HMD Global. It will sign the deal with Microsoft by the end of this year for $350 million. Microsoft is also selling the Microsoft Mobile Vietnam Limited along with the feature phone business. Microsoft’s manufacturing facility at Hanoi, Vietnam along with 4500 employees will be transferred to work on the new Nokia Mobile line up.
Nokia has agreed “to establish a collaboration framework to support the building of a global business for Nokia-branded mobile phones and tablet,” in its signed agreement with FIH.
Microsoft had not been able to generate any significant sales with the Nokia brand name. We hope that the original Nokia team will change that soon. Right now, everything is complicated behind the scenes. But from the consumer’s view, it’s very simple. Nokia is coming back. Both the feature phones and androids!
Will you buy a Nokia next year? Why or why not?
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