A new report confirms that Nokia has extended its brand licensing agreement with HMD, the company behind Nokia phones. This new deal will continue their partnership for several years beyond the original expiration date of 2026.
The news comes after HMD Global stopped making Nokia-branded smartphones earlier this year. Under the renewed agreement, HMD Global will not return to the smartphone market with the Nokia name. Instead, the focus will remain exclusively on producing and selling Nokia-branded feature phones.
Both Nokia and HMD Global have not made any public statements about the extension.
HMD Global manufactures these Nokia feature phones in factories located in India and China. India is a critically important market, not only as the largest consumer of these devices but also as a major export hub for shipping them to other regions.
Recent market data from the International Data Corporation highlights the significance of this market. In India, HMD Global holds a leading position in the feature phone sector. The company commands a 22.4 percent share of all units sold and accounts for about 30.7 percent of the market’s total value.
Source: India Times