Nokia is back: This time with Android

As it had promised, Nokia has formally announced that it will be back to the smartphone and tablet markets by allowing HMD Global Oy, a newly formed Finnish Company to use Nokia brand name for the next 10 years.

This announcement comes after Microsoft, the Redmond based company stated that it will sell its feature phone business, originally bought from Nokia in 2014 to HMD Global Oy and Hon-Hai/Foxconn group of China for $350 million. This transaction is expected to close in H2 2016.

HMD Global Oy plans to invest $500 million over the next three years to support the global marketing of Nokia-branded mobile phones and tablets, funded via its investors and profits from the acquired feature phone business. These Nokia branded smartphone will be based on Android Operating System Platform.

HMD Global Oy would be led, once the Microsoft transaction closes, by Arto Nummela as CEO, who previously held senior positions at Nokia and is currently the head of Microsoft’s Mobile Devices business for Greater Asia, Middle East and Africa, as well as Microsoft’s global feature phones business.

In short, it seems Foxconn will be manufacturing Nokia branded phones which will be sold by HMD Global Oy.

Source: Nokia , HMD Global

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