Almost 2 years after giving up on mobile phones and tablets, Nokia is all set to make a grand comeback in the market. So will Nokia phones & tablets manage to become household names again?
The Finnish company had once been one of the top contenders when it comes to selling phones and tablets. The globally renowned company, which was valued at an impressive $250 billion about twenty years ago, is barely heard of nowadays, and its overall value has come down to $30 billion at present, reports the Sydney Morning Herald.
The main reason for Nokia’s withdrawal from the digital gadget business was due to its primary rivals, Samsung and Apple. In the face of iPhones and Android devices pulling customers away from Windows phones, Nokia failed to come up with new promotional tactics and tech innovations before finally succumbing to poor sales.
Admitting defeat, the company sold the marketing rights to its handsets to Microsoft in 2014 and retired from the mobile phone business.
Like a phoenix rising from ashes, Nokia recently surfaced to announce that a Finnish company, HMD Global, will acquire the rights to use Nokia’s brand name and production designs from Microsoft.
The project is the brainchild of Arto Nummela, a former associate of Nokia, who is all set to re-launch Nokia phones, this time, powered by Android, reports The Verge. The deal is supposed to be finalized in June this year, after which HMD Global will start the manufacturing of the Nokia units.
HMD has also entered into a collaboration with Foxconn’s FIH Mobile “to support the building of a global business for Nokia-branded mobile phones and tablets.” So is the process of the re-launch going to be that smooth?
Annette Zimmermann, a smartphone analyst at research firm Gartner in Germany, thinks not. “It’s going to take more than a well-known brand name in this competitive market. To shake up the market and offer something that excites the fickle market will be difficult.”
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