HMD Global, the renowned firm that makes Nokia Smartphones, has struck a golden deal worth 230 Million dollars from the three big tech giants, namely Qualcomm. Google and Nokia Technologies. The deal is substantial in helping to support the development of 5G devices by HMD.
HMD, The Maker of Nokia Phones Secured Investment From Google, Qualcomm, Nokia Technologies
The CEO of HMD, Florian Seiche counted this deal as one of the most successful funding rounds for the company ever since its inception in 2016. He noted that the deal validates the company’s strategy of closely collaborating with the partners in hardware and software development.
Substantial Deal For Growth
He further added that “This significant investment with some of the closest strategic partners really allows us to accelerate our journey going forward,” The amounts of the investment have not been disclosed. Yet, each firm has invested a substantial amount of the total funding.
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Great Partnership With Google
HMD works on the Google Android One OS, one of the most secure and untouched versions of the OS, and offers lots of security and operating system updates. Seiche added that Google is providing the same OS services on Pixel phones, and the HMD phones would add to Google’s initiatives on the same.
New Phone To Be Out Soon
Nokia 8.3 5G would be available in the markets since next month, the latest investment from three companies would help develop the handsets at a lesser price and increase its availability. He added “We believe the second half of this year will see a broader set of 5G phones in the market, and we believe the true mid-tier range will probably be in the first half of next year,”
Founded in 2016 To Design and Market Nokia Phones
HMD Global has introduced many flagship Nokia phones in the market ever since it was found in 2016 to design and market Nokia phones in association with FIH Mobile, who manufactures the phone.
Looking Forward to Massive Growth
The company is currently vying big with investments from Qualcomm and Google; it can capture substantial market share in Europe and North America. The company is already booming in Brazil, Africa, and India.