After selling off its mobile phone division to Microsoft three years ago, Nokia is getting back in the game.
(CCM) — On Wednesday, Nokia announced that it has a new generation of Nokia-branded mobile phones and tablets in the works. This time, Nokia is planning to embrace the Android platform for its devices. Nokia has granted HMD, a new Finnish company led by some of the world's top mobile specialists, the rights to create this new range of devices for the next decade. Under this agreement, Nokia will receive royalty payments from HMD for sales of the devices, covering brand and intellectual property rights. "There is still much work for HMD to do, so you'll need to wait a bit longer to see what the next wave of Nokia phones and tablets look like," said Nokia in a statement. "One thing we can assure you is that they will exemplify what you have come to expect from all Nokia devices, including quality, design, and innovation."
Also on Wednesday, HMD and FIH Mobile Limited (a Foxconn subsidiary) announced that they will be acquiring the rights to Microsoft's feature phone business. HMD has agreed to acquire the Nokia branding rights from Microsoft, as well as some design-related rights. This agreement is expected to close in the second half of 2016. HMD also announced that it will invest over $500 million in marketing over the next three years to support the launch of the next-generation Nokia devices. FIH will acquire the remainder of Microsoft's feature phone business assets, including manufacturing, sales, and distribution. Nokia, HMD, and FIH have signed a collaborative agreement for the upcoming Nokia-branded devices. Microsoft says that it will continue to develop Windows 10 Mobile and the Lumia brand.
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