Nokia Name to Return to Mobile Phones After Licensing Deal

The Nokia name will return to the mobile phone market after a company backed by one of its former executives teamed up with manufacturer Foxconn to buy the rights to the brand for mobile devices.

Nokia, once the world's biggest maker of mobile phones, was wrongfooted by the rise of smartphones and eclipsed by Apple and Samsung. It sold its entire handset business to Microsoft Corp in 2014 and now focuses on telecoms network equipment.

But it held on to its phone patents with a view to eventually striking a licensing deal, though it had to wait due to a non-compete deal with Microsoft.The new company, HMD Global, "has been founded to provide a focused, independent home for a full range of Nokia-branded feature phones, smartphones and tablets," Nokia said in a statement.

As part of the process, HMD Global and its Taiwanese partner, FIH Mobile of FoxConn Technology Group, will take over Microsoft's feature phone business for $350 million (S$483 million), Microsoft said separately. The US company had bought the business from Nokia in 2014.

Nokia was the world's leading mobile phone maker from 1998 until 2011 when it bet on Microsoft's Windows mobile platform which proved to be a flop. Analysts say the company failed to grasp the growing importance of smartphone apps compared to hardware. The new product portfolio will be based on Google's Android.

Comments

Post a Comment

Popular posts from this blog

MYKHAYLO MUDRYK TO CHELSEA

Image
Exclusive: Chelsea have reached an agreement with shakhter for mykhaylo mudryk transfer, 100 million euro fee agreed between parties after mission revealed. Chelsea now pushing on player side as mudryk priority has always been Arsenal. Mudryk will fly to London in the nest hours, understand he will be in the UK tonight in order to discuss the details.  Arsenal last bid submitted on Thursday night was 95 million euro package for 70 million euro fee plus 25 million euro add ons. Chelsea pushing on long term deal to get personal terms sealed after agreement on 100 million euro with players club, negotiations advancing as club is preparing medical test for this weekend.
Read more

HOW TO FIND UR SITE ON GOOGLE FIRST PAGE

Image
Yan S. Huang, CEO of Press Release Jet, shares his advice from over fifteen years of experience in the SEO industry. Writing a one of a kind eBook, “How to Dominate Google Search Results Using Press Releases,” the CEO walks the audience through the details of how to get to page one of the search results on Google. His unique perspectives from inside both the SEO and press release industries adds credibility to his work. “There is a secret formula that has to be followed in order to get on top of Google and stay there. “How to Dominate Google Search Results Using Press Releases” reveals three tangible techniques that will help you get to the first page. In addition, I provided concrete examples to further help you getting to where you want to be at. The best part of it all is the fact that this is short, concise, and easy to read,” said the CEO. Press Release Jet is the leading press release distribution company in the industry. Offering their standard package at $35, which is the i
Read more

USA MILITARY BASES AT RISK

Image
Over the past decade alone, thermometers have measured some of the hottest average temperatures in recorded history. As the mercury rises, climate change is quickly becoming an unfortunate reality for many. In the United States alone, 13.1 million people who live in low lying areas could be forced to relocate by rising tides, according to sea level projections. The United Nations’ Intergovernmental Panel on Climate Change predicts sea levels will rise between one and three feet by the end of the century, creating a slew of tangible impacts on industry and residential life. A new report released on Wednesday by the Union of Concerned Scientists brings that reality home to a new group, the military, with predictions that at least 18 military bases are at risk from rising tides. “Reports like this are very helpful,” says Sean Hecht, the co-executive director of the Emmett Institute on Climate Change and the Environment at UCLA School of Law, in a phone interview with The Christian S
Read more