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Google and Qualcomm invest $230 million in HMD Global

HMD Global will use the funds to expand its market reach and offer 5G-enabled products.

  • Published: August 12, 2020 6:37 PM IST
HMD Global stock photo feat

Google has Qualcomm have announced investment of $230 million in HMD Global this week. The company is using the funds to build its armoury of 5G-enabled phones. The resources will also help the Nokia phone maker to expand its market base to more countries. Most of us know HMD Global as the company that gave us Android-powered phones. But it’s easy to forget the brand made its mark in the form of startup. And like every new venture, HMD Global has been seeking investor interest. Also Read - Google Pixel 5 shows up with detailed specs on AI Benchmark website

And getting Google as well Qualcomm on board for its funding plans is a big boost. It’s obvious that phone makers want to focus on the future, which is 5G. But it also needs to make sure the impetus of 4G device doesn’t get overshadowed because of its further plans. After all, majority of the world is still using 4G as the core network for mobile connectivity. With markets like India having more than 400 million users with 4G-enabled smartphones. Also Read - Nokia 2.3 becomes 11th smartphone from HMD Global to get Android 10 update

So, in addition to building products for 5G, HMD Global has to use this opportunity to battle with phone brands like Xiaomi, Samsung and more. Granted, the brand is relatively in the industry but with extra push and support from Google, Nokia phones have the chance to gain their past standing. Now, it’s up to the company to decide its future course of action, with a definite eye on the present. Also Read - Nokia 8.3 is the first 5G smartphone from HMD Global: Check price, features

Google acquires stake in Jio Platforms

The search giant officially confirmed its interest in buying stake into Jio Platforms. Google has now acquired a 7.7 percent stake in the RIL subsidiary for Rs 33,737 crore as well. And besides this, Google and Jio have joined hands to develop a new Android-based smartphone OS. The two companies will work together to make entry level 4G smartphones as well as an entry level 5G smartphone.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel.
  • Published Date: August 12, 2020 6:37 PM IST



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