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April 6, 2018
Nokia Technologies has partnered with HMD global, a Finland-based company, for a 10-year deal to create Nokia-branded mobile phones and tablets.
Under the agreement, Nokia will receive royalty payments from HMD for sales of all branded mobile products. HMD has also acquired the rights to use the Nokia brand on feature phones, and certain related design rights from Microsoft, making the company the sole global licensee for all types of Nokia-branded phones and tablets.
“We will be completely focused on creating a unified range of Nokia-branded mobile phones and tablets, which we know will resonate with consumers,” says Arto Nummela, chief executive officer designate, HMD. “Branding has become a critical differentiator in mobile phones, which is why our business model is centered on the unique asset of the Nokia brand and our extensive experience in sales and marketing. We will work with world class providers in manufacturing and distribution to move quickly and deliver what customers want.”
Additionally, both companies have partnered with FIH Mobile, a subsidiary of Hon Hai Precision Industries, to establish a framework to support the building of a global business for the branded phones and tablets.
The partnership will give HMD full operational control of sales, marketing and distribution, as well as exclusive access to a pre-eminent global sales and distribution network, device manufacturing, supply chain and engineering capabilities for the branded products.
“Today marks the beginning of an exciting new chapter for the Nokia brand in an industry where Nokia remains a truly iconic name,” says Ramzi Haidamus, president, Nokia Technologies. “Instead of Nokia returning to manufacturing mobile phones itself, HMD plans to produce mobile phones and tablets that can leverage and grow the value of the Nokia brand in global markets. Working with HMD and FIH will let us participate in one of the largest consumer electronics markets in the world while staying true to our licensing business model.”
Read more about:Nokia
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