Nokia confirms that the strategic agreement covering branding rights and intellectual property licensing with HMD Global Oy (HMD), originally announced on May 18, 2016 has come into force.
HMD has today announced the completion of transactions between HMD, FIH Mobile Limited (a subsidiary of Hon Hai Precision Industries trading as Foxconn Technology Group) and Microsoft, which means that HMD can begin operations as the new home of Nokia phones, under an exclusive global brand license for the next ten years.
Nokia branded feature phones remain one of the most popular choices of mobile phone in many markets around the world today and HMD will continue to market them as part of an integrated portfolio, alongside a new range of smartphones and tablets to be announced later by HMD.
Under the agreement, Nokia will receive royalty payments from HMD for sales of every Nokia branded mobile phone and tablet, covering both brand and intellectual property rights. Nokia is not an investor or shareholder in HMD.
Today also sees the return of Nokia branded phones to the Nokia website at www.nokia.com/phones. The website for Nokia phones is operated by HMD.