Nokia, the Finnish firm that was once the world’s largest seller of mobile phones, is getting back into the business in the wake of a $350 million deal involving Microsoft, HMD Global, Oy and FIH Mobile Ltd., a subsidiary of the Foxconn Technology Group, perhaps best known for its manufacturing of iPhones.
Samsung passed Nokia in the mobile phone market in 2012; one year later, Nokia sold its devices and services business to Microsoft. Today, however, Microsoft said it was shedding part of that business — the segment focused on “dumb” feature phones — while Nokia announced its return to the mobile phone and tablet market under the new HMD brand..
Microsoft, which will continue to develop smartphones such as the Lumia on its own and through OEM partners, said the deal should close sometime in the second half of this year. After that, HMD expects to become the sole global licensee for all devices carrying the Nokia brand.
Source: MOBILE TECH TODAY