If you thought that Nokia phones were dead and gone, think again!
Microsoft, after mishandling the Nokia business has decided to sell it to FIH Mobile, a subsidiary of Chinese hardware manufacturer Foxconn (they manufacture iPhones for Apple) and HMD Global for $350 million last week. (Both FIH Mobile and HMD Global have a collaborative agreement in place) The sales include the Nokia trademark, assets and its manufacturing facility in Hanoi, Vietnam.
With a plan to invest more than $500 million, HMD, which will be the company in charge of building the wave of mobile devices wants to capitalize on Nokia’s brand equity to push Nokia-branded smartphones. However, this time, the Nokia phones as we know it will now have Android on board. Nokia also says that it will acquire the rights from Microsoft to use the “Nokia” trademark on feature phones until 2024.
Asides all that have been mentioned, around 4,500 employees will “have the opportunity” to join FIH Mobile, or HMD Global come June when the transaction is finalized.
Welcome back, Nokia