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Saturday, November 19, 2016

Nokia to make re-entry in smarphone market in 2017






Over the past few months there has been numerous  leaks and reports doing rounds about the possible re-entry of Nokia Phones. Now it is officially confirmed that Nokia will be making its re-entry in the smart phone market.However, we have to wait a little longer as the launch is not going to happen this year

The company will be releasing a new brand of smart phones in 2017.This is confirmed from one of the slides in the capital market day (CMD)presentations. CMD is a one-day event for investors to provide a full review of company's strategy,operations and financial targets. If rumors are to be believed, the launch of smartphones would be announced during key note address of Rajeev Suri, the President and CEO of Nokia, at mobile world congress(MWC), slated to held by the end of this year.


Nokia was the world's top mobile phone maker between 1998 and 2011 but was overtaken by South Korean rival Samsung after failing to respond to the rapid rise of smartphones. Even though the upcoming smart phones will have the company's name, Nokia, however, is not going to produce them. The Production of smart phones will be done by HMD Global, a Finnish company.


Nokia has granted intellectual property licensing to HMD Global Ltd to produce Nokia branded mobile phones and tablets for the next 10 years. The company will pump at least GBP 500 million for advertising purposes for the initial three years. Apart from this, it is expected, these devices will be running on Google's android platform rather than on Microsoft.

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