Nokia Step Smartphone Back

Jan 31, 2018 AT 11:01 AM | BY LifeBanter

Nokia announced on Wednesday its return to the mobile phone and tablet in relation with a more general agreement by Microsoft to sell its entry-level phone business to HMD World and FIH Mobile for US $ 350 million.

Nokia Step Smartphone Back Under the agreement, Microsoft will sell its Hanoi, Vietnam, factory of manufacturing to FIH Mobile, a unit of Hon Hai/Foxconn Technology Group. The workers will have the opportunity to work for OTHER Mobile device or HMD World, according to Microsoft.

Nokia provides a HELMET, a newly incorporated company, the exclusive worldwide license to create Nokia brand phones and tablets for the next 10 years and will receive royalty payments from HMD for the sale of these devices, covering both the brand and the intellectual property rights.

HMD plans to invest more than $ 500 million over the next three years to support the global marketing of Nokia devices, which will be paid by the investors and the profits of the new company.

Source: technewsworld.com