Nokia Confirms It’ll Be Returning to Smartphones in 2017
We’ve been hearing for a while now that Nokia is all set to return in the smartphone market and now this has been officially confirmed in company slides publicly available online. You can see the relevant slide in the image below, and in it the confirmation for Nokia’s return to the smartphone world.
Though the company won’t be really going to produce any of the future Nokia-branded devices, it will just act as the owner of the brand and patents, and it will oversee the creation of the new phones. HMD will be the one actually making these phones, confirmed according to a deal Nokia struck this year, which will pair Nokia’s brand, patents, and oversight, with Foxconn’s R&D and manufacturing prowess.
HMD has a ten-year exclusive agreement for using the Nokia brand on mobile phones, and it will pour a minimum of €500 million in marketing in the first three years in which it’s going to sell those handsets.