INSUBCONTINENT EXCLUSIVE:
HMD Global has raised $100 million in new funding as it seeks to re-establish the Nokia brand as a major force in the mobile market once
again.The Finnish startup has released 16 devices bearing the famous name under licence and claims to have sold more than 70 million
handsets around the world since 2016
Last year, it posted revenues of $2.13 billion and an operational loss of $77 million.The new investment gives HMD a market valuation in
device portfolio into further segments of the market and to expand its channel reach in strategic markets
In total, Nokia devices are sold in more than 250,000 retail outlets."We are thrilled to have these investors join us in our journey to
delight our fans while staying true to our Finnish roots and the hallmarks that the Nokia brand has always been known for
We aim to be among the top smartphone players globally and our success to date gives us the confidence to further continue on a growth path
in 2018 and beyond."The most recent Nokia device to be revealed is the Nokia X6, a full screen device (complete with the now ubiquitous
manufacturer, but it sold its devices and services business to Microsoft in 2013.
