Nokia Returning To The World Of Smartphones

The Finnish multinational communications and information technology company Nokia signs a strategic brand and intellectual property licensing agreement with the HMD global just to create the new generation of Nokia smartphones and Nokia tablets with the brand.

Nokia Returning To The World Of Smartphones

Nokia announced plans that will see Nokia return marks for telephony and mobile tablets markets on a global basis. Under a strategic agreement covering trademark rights and intellectual property licensing, Nokia Technologies will grant HMD global, a newly established company based in Finland, an exclusive worldwide license to create Nokia mobile phones and tablets with the brand for the next ten years.

Under the agreement, Nokia will receive HMD global Technologies, royalty payments for the mobile product sales with the Nokia brand, which will cover both trademark rights and intellectual property. Hence, the devices will be produced by a subsidiary of Taiwan’s multinational electronics contract manufacturing company Foxconn.

The company, which was once the largest manufacturer in the world of mobile phones, sold its handset business to the tech giant Microsoft in 2014. However, Nokia got their patent and began preparing a return to the market through brand licensing and currently gets most of its revenue from telecommunications equipment.