People interested in the smartphone market know that the new Nokia Android on board do not have much in common with old phones. The Finnish company HMD Global, which bought the right to use the Nokia brand, is responsible for the production of new smartphones. However, investors like how the Finns use the legendary brand. That’s why HMD Global has raised $100 million for development.

Nokia is currently focusing on the telecommunications solutions market. It was in this direction that the company, which was once a leader in the mobile phone market, decided to go. Unfortunately, Nokia slept the era of smartphones with touch screens, which resulted in the sale of the mobile department. Initially, Microsoft tried its strength with the Nokia brand, but the mobile Windows could not stand the test of time. Fortunately, the Finns, who once worked in Nokia’s mobile department, decided to try their hand again on the mobile devices market. This time they did it under the name of a new company, i.e. HMD Global, which has its headquarters in Espoo opposite the Nokia campus. Everything indicates that it was a very good idea.

HMD Global is still not making money, but there are no problems with raising money from investors

HMD Global sold 4.4 million smartphones in the fourth quarter of the last year. This means that devices with the Nokia logo are selling better than the smartphones HTC, Sony, Google, Alcatel, Lenovo and others. Therefore, nobody should be surprised by the good investor sentiment. It is true that HMD Global can not compete directly with Samsung or Apple, but it may come time. Currently, the Finns are focused on the equipment market with so-called mid-range and “almost” flagships devices. For now, this strategy works very well. People associate the Nokia brand with high quality and so far HMD Global has not failed this trust. Another advantage is the software. Nokia has almost pure Android, which speeds up the process of preparing the update. Thanks to this, HMD Global has no problems with ensuring at least a 2-year support period and release of monthly security updates. I hope that the acquired $100 million will be used to develop the flagship, which will be equipped not only with the best quality display and camera, but also a high-end LTE modem.

Source: Reuters