Nokia Makes Investment in Mobile Payment Company
Today Nokia announced that it is investing in a California-based company that facilitates mobile payments. Obopay already allows people to make payments to one another via text message in the U.S. and India. Funds are drawn from bank accounts or credit cards that are registered to the mobile phone. Nokia invested in Obopay from its general funds, not its venture capital division, suggesting that Nokia wants to have closer ties to how Obopay operates. Nokia's Teppo Paavolo, head of corporate business development, will be granted a seat on Obopay's board. The size of Nokia's investment was not disclosed.
New Nokia Phones One Step Closer to Reality
HMD Global has hired a former Nokia executive to help kickstart its phone ambitions. HMD Global is a Finnish company that licensed the Nokia name with the intent of making Nokia-branded smartphones.
Nokia to Idle Indian Manufacturing Plant
Nokia has indicated it will cease production at a facility located in Chennai, India. Nokia still owns and operates the plant despite the fact that it sold its handset division to Microsoft earlier this year.
Nokia Pins Smartphone Comeback on HMD Global
Nokia today said it plans to return to the smartphone business during the first half of 2017 through its partnership with HMD Global. HMD Global recently completed a series of transactions between HMD, FIH Mobile Limited, and Microsoft that will allow it to make phones bearing the Nokia brand.
Nokia's HERE Maps Quick to Draw Suitors
Four companies have expressed interest in acquiring Nokia's HERE Maps business, reports Reuters. A coalition of German auto makers, Audi, BMW, and Daimler, are weighing a joint bid, as are Facebook, Uber, and U.S.