ESPOO (dpa-AFX) - Nokia (NOK) announced Nokia Technologies will grant HMD global Oy, a newly founded company based in Finland, an exclusive global license to create Nokia-branded mobile phones and tablets for the next ten years. Nokia Technologies will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights. HMD announced it has conditionally agreed to acquire from Microsoft the rights to use the Nokia brand on feature phones, and certain related design rights. The agreements would make HMD the sole global licensee for all types of Nokia-branded mobile phones and tablets.
Headquartered in Helsinki, Finland, HMD is a new private venture founded to create a new generation of Nokia-branded mobile devices. HMD is run by a group of experienced industry leaders, including CEO Arto Nummela, previously of Nokia and currently the head of Microsoft's Mobile Devices business for Greater Asia, Middle East and Africa as well as Microsoft's global Feature Phones business, and President Florian Seiche, who is currently Senior Vice President for Europe Sales and Marketing at Microsoft Mobile, and previously held key roles at Nokia, HTC and other global brands.
HMD intends to invest over $500 million over the next three years to support the global marketing of Nokia-branded mobile phones and tablets.
Microsoft will continue to develop Windows 10 Mobile and support Lumia phones.
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