HMD Global announced it has raised $ 100 million in funding to boost Nokia smartphone growth

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The HMD Global deal with Nokia regarding smartphone brand permissions is a success. It is characterized by the use of the flash sale method to launch the Nokia X6, closed with device units sold out in 10 seconds.

The Nokia brand is also reportedly beginning to find its revelation with the lives and desires of the people. This is marked by sales of 4.4 million smartphone units during the fourth quarter of 2017, ahead of HTC, OnePlus, Google, Sony, and Lenovo in the same period.

Nokia is considered not to sell its brand to other companies if in 2011, Nokia CEO Stephen Elop prefers to bring new Nokia devices with the Android operating system and not Windows Phone. But Elop claimed never regretted his decision.

In 2013, Nokia announced the sale of its device business to Microsoft for the US $ 7.2 billion. The agreement between the two technology companies includes a non-competition clause, preventing Nokia's name from being used on smartphones until the end of 2016.

In May 2016, HMD Global obtained permission using the Nokia name, which spawned a new era. Today, HMD Global announces it has raised the US $ 100 million to increase the growth of the Nokia brand awakening.

Last year, HMD Global sold 70 million Nokia-branded devices, with sales worth the US $ 2.1 billion. In 2017, Nokia became the feature phone brand with the highest sales and ranked 11th on the list of smartphones with the best sales according to Counterpoint Research.

This year, HMD Global said it plans to double channel sales in a number of areas while expanding its Nokia smartphone line. HMD Global also mentioned the plan requires a lot of funds.

Among a number of new investors who support HMD Global's plans include Foxconn's subsidiary FIH Mobile, a company that assembles Nokia phones. HMD Global's new investor is DMJ Asia Investment Opportunity.


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