Nokia brand mobile phones to be manufactured globally by HMD
Nokia has planned to bring Nokia brand back to the mobile phone and tablet markets on a global basis. The company has signed a strategic brand and intellectual property licensing agreement enabling HMD to create Nokia-branded mobile phones and tablets for the next ten years. Under the agreement, Nokia Technologies will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights. HMD has been founded to provide a focussed, independent home for a full range of Nokia-branded feature phones, smartphones and tablets. Also, HMD has conditionally agreed to acquire rights from Microsoft to use the Nokia brand on feature phones, and certain related design rights. The Microsoft transaction is expected to close in H2 2016. Together, these agreements would make HMD the sole global licensee for all types of Nokia-branded mobile phones and tablets. HMD intends to invest over US$500 million over the next thr...