One of the most high profile casualties of the iPhone’s rise, Nokia, has announced that it – or, to be more precise, its brand – is returning to the mobile phone industry, the company having signed a 10-year licensing deal allowing Finnish firm HMD Global City to make Nokia-branded devices.
At one time the world’s leading mobile phone manufacturer, Nokia’s influence in the industry went through a long term decline culminating in its decision, back in 2013, to sell its handset business to Microsoft. However, Nokia has today announced that it will be paid royalties by HMD with sales of Nokia-branded phones and tablets to be manufactured by FIH Mobile, a Foxconn subsidiary.
Earlier today, Microsoft revealed its intent to sell its entry-level phone assets to FIH and HMD for $350 million – with HMD acquiring from Microsoft the rights to use the Nokia brand on rudimentary handsets until 2024. Microsoft’s deal with HMD is expected to close in 2016’s second quarter, though Nokia has declined to indicate when new Nokia-branded devices should launch.
