Remember Nokia? Surely you do, the brand used to make mobile phones. Tough phones that could take a beating, phones that could go for weeks on one charge. Gosh, those were the days.
Worry not, though, because the Nokia name is coming back thanks to a new license agreement that allows Finnish company HMD to sell phones using the name over the next ten years. The product will be manufactured by FIH, a subsidiary of FoxConn.
The deal doesn't involve Nokia Technologies (the current form of the phone brand) buying any equity in HMD, instead it will receive royalty payments in exchange for its name and and cellular standard patent licenses. HMD's Nokia-labeled products will, however, be scrutinized to make sure they're up to scratch with what's expected of the brand.
According to HMD's CEO in-waiting, Arto Nummela, the venture is built around Nokia's instantly recognizable name.
"We will be completely focused on creating a unified range of Nokia-branded mobile phones and tablets, which we know will resonate with consumers," said Nummela. "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."
Rather than running with Windows Phone like recent offerings, the new devices will be built around the Android platform.
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