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December 1, 2016 04:00 pm

Nokia Dials Back Time To Sell Mobile Phones Again

Nokia said Thursday mobile phones carrying its brand will make a comeback via a new venture that will reunite the Nokia brand with veteran Nokia execs who aim to move into smartphones capitalizing on an existing operation that sells low-cost basic phones. From a report on BBC: It's thanks to a deal with a small team based at a business park on the fringes of Helsinki, who are engaged in what will seem to many a foolhardy mission. They call themselves HMD Global -- and they believe they can make Nokia a big name in mobile phones once again. I met Arto Nummela, Pekka Rantala and Florian Seiche in a cafe on what is still the Nokia campus. That very day Arto and Pekka had stopped working for the Nokia Windows mobile phone business owned by Microsoft -- because they had acquired both it and the Nokia brand to start their new business. Yes, it is complicated, but so is the recent history of what was just a few years back Europe's technology superpower and the biggest force in mobile phones. After the launch of the iPhone in 2007, Nokia faltered and by 2011 was on what its first American chief executive, Stephen Elop, called a burning platform. Then, the phone business was sold to Microsoft, which soon found it had made a disastrous purchase as the Nokia Windows combination failed to claim a significant slice of a market dominated by Apple's iOS and Android. Now, the Finnish business -- which remained a big force in telecoms infrastructure after the sale of the mobile unit -- has licensed the Nokia brand to HMD Global, which aims to take it back to the future.

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