Nokia has announced that it would return to creating new smartphones and tablets this year, with devices running with Google’s Android platform.
This comes with an announcement of strategic brand and intellectual property licensing agreement enabling HMD global, a new company, to create new generation of Nokia-branded mobile phones and tablets, as well as a collaborative framework with FoxConn’s FIH Mobile Limited to strengthen its core sales, marketing, and distribution of the new devices. The new company also had an conditional agreement with Microsoft to use the Nokia brand in phone assets and other design rights.
With a $500M investment over the next three years, HMD expects to close the Microsoft deal by later this year in order to start working on new Android devices bearing the Nokia brand. Nokia would still oversee everything, as they will be seating on HMD’s board of directors and handing out several cellular patents and designs to help retain the trademark Nokia consumer expectations including quality, design and consumer focused innovation.
Oh yeah baby. Welcome back!