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Nokia will receive royalty payments from a Finnish firm for sales of branded phones and tablets over the next decade.
Nokia has promised a fresh range of Android-powered smartphones and tablets in the new year, alongside existing Nokia-branded feature phones.
Nokia devices are returning to the market in a rather roundabout manner. In 2014, it sold its handset business to Microsoft. But Redmond has struggled in mobile, so earlier this year, Microsoft sold its feature phone business to a subsidiary of Foxconn and a newly formed Finnish firm for $350 million. That Finnish firm will in turn create Android-based phones and tablets...for Nokia.
As part of the deal, Redmond transferred brands, software and services, care network, customer contracts, and critical supply agreements related to the feature phone business to FIH Mobile and HMD Global Oy. Nokia inked a deal with HMD whereby Nokia will receive royalty payments from HMD for sales of every branded phone and tablet over the next decade.
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