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. 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.
Nokia-Branded Phones to Make a Comeback
May 18, 2016
Nokia and Microsoft today put in motion a series of deals that will eventually lead to Nokia-branded handsets returning to the market. Microsoft has agreed to sell its feature phone business to FIH Mobile Limited, a subsidiary of Foxconn, for about $350 million.
Sprint to Sell Rubin's Essential Phone As an Exclusive
Jun 12, 2017
Essential Products has found a U.S. carrier to distribute its Essential PH-1 handset, and that carrier is Sprint.
Nokia Pins Smartphone Comeback on HMD Global
Dec 1, 2016
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.
Essential Cans Plans for New Phone, Puts Itself Up for Sale
May 24, 2018
Essential Products is for sale, reports Bloomberg, and has cancelled plans to develop a new phone. The company has hired a financial firm in order to help advise it on a potential sale, according to Bloomberg's sources, who also say Essential has already received interest from one possible buyer.