HMD Global, maker of Nokia Android smartphones, raises $230 million from Google, Qualcomm, and others

Finnish company HMD Global released its first Android smartphone in early 2017, the Nokia 6. Since then, the Nokia licensee has purchased hundreds of thousands of Android smartphones (and millions more characteristic telephones), per recordsdata serene by be taught agency Counterpoint Be taught. HMD Global’s smartphone exchange has considered success largely attributable to the energy of the Nokia model and the company’s scheme of promoting many different smartphones all the blueprint in which by the budget and mid-range designate spectrum. Now, the company has announced that it has raised $230 million in funding from just a few of its prime global strategic companions, which contains Google, Qualcomm, and Nokia, as reported by VentureBeat.

In a press release published at present time, HMD Global announced that it intends to make utilize of the funding to develop its 5G smartphone exchange, transition to “digital-first” offerings in gentle of the increased quantity of oldsters staying at home attributable to COVID-19, grow its presence in key markets like Brazil, Africa, and India, and reinforce its mobile carrier exchange.

HMD Global’s smartphones are designed by the company and manufactured by FIH Mobile, a subsidiary of Foxconn. The company ships a end to inventory model of Android on its smartphones and promises 3 years of month-to-month Android security patch updates and 2 years of Android OS upgrades below Google’s Android One program. The company makes utilize of SoCs from both MediaTek and Qualcomm in its smartphones, though the company’s first 5G-enabled smartphone, the Nokia 8.3, facets Qualcomm’s Snapdragon 765G. The Nokia 8.3 changed into announced encourage in March and is launching within the U.S. this descend for an undisclosed designate. With its unusual funding, HMD Global plans to lengthen its presence within the U.S. market moreover as to Brazil, Africa, and India. And since HMD Global is a European company, they’re largely insulated from the escalating exchange battle between the U.S. and China, meaning they’re positioned well to swoop within the build assorted Chinese smartphone makers will be compelled to lower encourage.

HMD Global’s plans lengthen beyond smartphones, too. Earlier this Twelve months, the company launched HMD Join, a SIM card with global recordsdata roaming. To boot they got the sources of Valona Labs, a mobile, endeavor, and cybersecurity gadget company, and launched a brand unusual “Centre of Excellence” in Finland to transition the company to a blended hardware and services and products company. The company faces tricky opponents from Chinese instrument makers, nonetheless this most popular spherical of funding shows that traders are confident within the lengthy urge of HMD Global’s cell phone exchange.

Learn Extra

Leave a Reply

Your email address will not be published. Required fields are marked *