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HMD Global's Nokia makes its first-ever profit in Q4 2019

Amongst many challenges, the news will provide relief to Nokia ahead of what can perhaps be a very difficult year for smartphone brands.

  • Published: April 2, 2020 8:16 AM IST
Nokia 8.3 5G lead

HMD Global owned Nokia smartphones made its first profit (pre-tax) in the fourth quarter of last year. According to the report, HMD is still in the B round of financing and hopes to close the round of financing in the first half of 2020. Also Read - Nokia 7.2 Android 10 update rollout begins: All you need to know

Nokia Finland announced its return to smartphones by partnering with some startups. Foxconn-owned FIH Mobile is one of those names. They exclusively manufactured the brand’s phones. In 2019, HMD Global decided to implement a new multi-ODM strategy. This meant that more companies have signed new contracts with HMD Global to manufacture their devices. FIH Mobile now owns about 10 percent of HMD Global. Hence, it also belongs to HMD Global’s ownership structure. Also Read - Nokia Smart TV with 43-inch panel and JBL speakers launching soon on Flipkart

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Along with a focus on key growing markets, the strategy is likely what is responsible for HMD Global’s success in the fourth quarter of the year. The firm has been struggling in recent times. Both in the smartphone business and in 5G constructions, the company faced some big challenges. The brand is still tackling these issues. However, the latest report will bring relief to the company. The brand will now be able to better face the upcoming year. Aiding its sales are new launches like the Nokia 8.3 and the upcoming flagship Nokia 9.2. Also Read - Nokia 5.3 and Nokia 5310 listed on India site, HMD Global might skip Nokia 8.3 5G and Nokia 1.3

Nokia 8.3 5G launched with Snapdragon 765G

Nokia recently launched the 8.3 5G phones along with the 5.3 and the budget smartphone 1.3. The 8.3 features the Qualcomm Snapdragon 765G 5G mobile platform. Juho Sarvikas, Chief Product Officer of HMD Global, said that 8.3 5G will be the first truly global 5G smartphone. It is not only optimized for the current generation of 5G networks but also for future networks as well. In terms of design, the smartphone builds on the Nordic design previously seen on the Nokia 7.2. It also gets a new green color inspired by Northern lights. At the front, there is a 6.81-inch PureDisplay and has a punch-hole display as well.

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  • Published Date: April 2, 2020 8:16 AM IST



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