A new chapter for Nokia, the once powerful mobile company after its parent company, Microsoft decided to sell it to a new company. Nokia announced that their products and name were now going to be licensed by HMD global, which is a newly created company. The partnership will seek to produce and manufacture a range of Android supported devices.
HMD global is Finnish based and is also led by Arto Nummela, one of the few Nokia veterans who had moved to Microsoft after the acquisition of Nokia. HMD global agreed on a conditional agreement with Microsoft which sees the new company get hold of the Nokia name on their feature phones together with some of their design products. Nummela will be the CEO of the new company when the deal is done, of which it’s expected to be done by the end of June.
Foxconn is also involved in the deal through its subsidiary FIH Mobile. FMH Mobile is the company that is taking over as Microsoft releases control. HMD and FIH have a deal in place that supports the global business brand building of the Nokia mobile devices products such as phones and tablets. The latest Nokia, the Nokia N1 tablet was built by Foxconn together with Nokia.
Between Nokia and HMDs partnership, Nokia gets to have a seat on the board of directors at the new HMD venture. They also get to choose brand requirements coupled with the performance related tasks. The best solution is to combine Nokia’s design knowledge and expertise together with Foxconn’s manufacturing togetherness and make one of the best hardware companies. All this has to go along and incorporate the Nokia wearable devices venture after they recently purchased Withings.