Nokia smartphons licensee HMD raises $100 million to fuel growth

HMD- Global the Finnish company that owns the right to use the Nokia brand on phones, has raised $100 million of funding intended to boost growth.Having sold about 70 million Nokia phones and generated sales of 1.8 billion euros ($2.1 billion) in its first year.

HMD's products are built by FIH Mobile and use Google's Android platform. It pays Nokia Corp royalties for the brand and patents, but Nokia has no direct investment in HMD.

According to Counterpoint Research, Nokia was the biggest-selling brand last year in low-cost feature phones and ranked No. 11 in smartphones.

article by tejatechview.com