New Nokia Phones One Step Closer to Reality
Aug 15, 2016, 8:04 AM by Eric M. Zeman
updated Aug 15, 2016, 10:03 AM
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. Today HMD Global picked up Pekka Rantala, former CEO of Rovio, to serve as its Chief Marketing Officer. Before he worked at Rovio, Rentala spent 17 years at Nokia. HMD Global will design Android-based smartphones and tablets that will be manufactured by FIH Mobile, a subsidiary of Foxconn. Microsoft sold its feature phone business — the last remnants of Nokia's former hardware unit — to FIH earlier this year. HMD expects to spend $500 million over the next few years to increase its ability to make and market mobile devices. In addition to branding rights, Nokia is supplying HMD with cellular standard essential patent licenses in return for royalty payments, but Nokia itself is not investing in HMD. Nokia continues to focus on its core telecoms business.
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