Nokia Re-enters the Phone Market

Die hard Nokia customers will soon be able to purchase the phone brand again, one and half years after the company was bought by Microsoft(www.microsoft.com) .

Microsoft has sold the brand, worth $300bn(N60tri) for $350m(N70bn) to  FIH Mobile, a subsidiary of Chinese hardware manufacture, Foxconn, which manufactures iPhones for Apple, and a newly formed company called HMD Global.

HMD Global said that the procurement only includes Microsoft’s “Feature Phone” business, but they plan to start development of future Nokia-branded smartphones and tablets which run Android.

The Chief Executive, HMD global, Arto Nummela, states: “We will be completely focused on creating a unified range of Nokia-branded mobile phones and tablets, which we know will resonate with consumers. Branding has become a critical differentiator in mobile phones, which is why our business model is centered on the unique asset of the Nokia brand, and our extensive experience in sales and marketing. We will work with world-class manufacturing and distribution providers to move quickly and deliver what customers want.”

Microsoft explained that the sale will not affect its Windows-based mobile operations adding that the company  will continue to develop Windows 10 Mobile and keep its Lumia brand of phones alive, while continuing to partner with hardware makers like Acer, Alcatel, HP and VAIO.