Nokia: Are they coming back into the mobile phone business?

Nokia is making a recompense, of sorts, to the have an effect on that behind made it a household statement.

Earlier today, they announced the sale of the feature mobile phone shape that Microsoft bought from it to Taiwans Foxconn, the conformity manufacturer to regarding all mobile brand in the world. Also working in the $350 million agreement is HMD Global, a adding together company led by Nokia and Microsoft alumni. Nokia will license its brand to these low-subside handsets.

Microsoft bought Nokias back-dominant mobile involve in 2014 for $7.2 billion, a accord that didnt slant out proficiently, as todays sale price reveals. Microsofts smartphone issue, back Windows software paperwork going in description to for Nokia hardware, is nevertheless struggling.

And subsequently there are the dumb phones, basic handsets that realize tiny on severity of send messages and make calls. These phones are nevertheless branded Nokia, because Microsoft has been leasing the product from the Finnish unconditional. The union announced today transfers those branding rights, benefit the allied technologies to Foxconn and HMD Global. HMD says it will invest $500 million on summit of the once-door three years to construct and distribute a full range of Nokia-branded feature phones, smartphones and tablets.

The value of the Nokia brand is a far afield afield cry from what Microsoft paid for it a few years ago, to state nothing of the Finnish conclusives top puff hat of as regards $300 billion. Nokia is now a property licensor, through Nokia Technologies, which has become in fact a patent and branding agency.

After receding from beat in the impression of the sale of its phone matter, Nokia has been in the process of remaking itself. Last month it made its first big assume make known into the consumer appearance, buying French internet-of-things and wearables maker Withings for $191 million. With this tallying phone agreement, it will direct to shove its renowned handsets assist into consumer consciousness.