Nokia on Wednesday announced its return to the mobile phone and tablet business in connection with a larger agreement by Microsoft to sell its entry-level phone business to HMD Global and FIH Mobile for $350 million. Under the deal, Microsoft will sell its Hanoi, Vietnam, manufacturing facility to FIH Mobile. Workers will be given the opportunity to work for FIH Mobile or HMD Global. Nokia will grant HMD the exclusive global license to create Nokia-branded phones and tablets for the next 10 years and will receive royalty payments from HMD.
Loading ...
Nokia Stages Smartphone Comeback
Posted by: David Jones May 20, 2016 07:00 AMNokia on Wednesday announced its return to the mobile phone and tablet business in connection with a larger agreement by Microsoft to sell its entry-level phone business to HMD Global and FIH Mobile for $350 million. Under the deal, Microsoft will sell its Hanoi, Vietnam, manufacturing facility to FIH Mobile. Workers will be given the opportunity to work for FIH Mobile or HMD Global. Nokia will grant HMD the exclusive global license to create Nokia-branded phones and tablets for the next 10 years and will receive royalty payments from HMD.