Nokia returns to the phone market as Microsoft sells brand

Microsoft has sold the brand, which was worth $300 billion at its height, in two parts for a total of just $350 million. The brand name was sold to a new company called HMD, formed by former Nokia employees in Finland. Meanwhile, the manufacturing, distribution and sales arms of Nokia have been bought by iPhone manufacturer Foxconn, which has also agreed to build the new Nokia phone for HMD. The purchase only includes Microsoft’s “feature phone” business, but the new company says it intends to start development of future Nokia-branded smartphones and tablets which run Android. It looks likely that the brand will appeal to the nostalgia of those who remember the Finnish company at its height. (



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