Nokia mobile phone maker HMD raised $230 million in investment by Google Qualcomm

 Nokia mobile phone maker HMD raised $230 million in investment by Google Qualcomm

Many may think that Googles investment in Nokia branded smartphones (through hmdglobal) is ironic, because it is Android that has helped subvert Nokias lucrative smartphone business, driving it out of the worlds number one mobile manufacturer, and ushering in an era of the rise of Android driven Asian mobile giants.

Were very excited about Googles key role in the decline of Nokias smartphones, saizi said. How were going to write the next chapter in smartphones is a key strategic pillar for the company, and our opportunity to work closely with Google has been predestined from the beginning. This investment confirms this and is crucial for the future. This is a critical moment for the mobile industry, so a clear strategy is needed.

At the same time, Nokia has always maintained a close relationship with hmdglobal: hmdglobal was established by former Nokia executives with the sole purpose of licensing its iconic mobile brand. At present, vergias investment in hmdglobal is a vote of confidence in the companys performance in the highly competitive mobile sector and an optimistic assessment of future growth opportunities.

Hmdglobal now has a lot of new money and is looking to expand in growth markets such as Africa, Brazil and India. Hmdglobal says it is active in 91 markets in eight regions and its equipment is sold in 250000 retail stores around the world. Hmdglobals first 5g device, Nokia 8.3, will be available in the United States and Europe in a few weeks. He said it is expected to launch a medium priced 5g device in the middle of next year. (small)

Source: Wang Fengzhi, editor in charge of Netease science and Technology Report_ NT2541