Nokia Phones Maker HMD Global Raises $230 Million, Eyes 5G Boom

Nokia Phones Maker HMD Global Raises $230 million

The home of Nokia phones, HMD Global, announces it has successfully closed $230 million in the first closing of its current funding round from top global strategic partners.

Establishing itself as a leading feature phone manufacturer by value, HMD Global has been successful in clearly changing its Android smartphone offering.

Nokia smartphones come with a Nordic design that is inspired by the company’s European heritage, premium ZEISS imaging experience, superior product quality, and security features including a three-year monthly security update promise and two-year Android software upgrade commitment with the Android One promise.

HMD Global is increasingly popular with both consumers and enterprises who are looking for a pure, secure, and up-to-date smartphone experience.

HMD Global Strategic Vision in 4 Key Areas

The investment will further fuel HMD Global’s strategic vision in four key areas.

Firstly, it will accelerate the company’s mission to make 5G smartphones accessible to consumers across the world, with an emphasis on strong alliances with US carriers.

Secondly, HMD Global will further transition to digital-first offerings as part of a new post-COVID reality. It will also expand its presence in key growth markets, including the recently introduced operations in Brazil, as well as India and Africa.

Finally, the investment will help the business strengthen its position beyond just hardware and into a holistic mobile service provider.

This year alone, HMD Global launched its international data roaming service, HMD Connect, enhanced its mobile cybersecurity capabilities with the acquisition of assets of Valona Labs, and built dedicated resources on software, security and services with a new Research and Development Centre of Excellence in Tampere, Finland.

“Our unique business model, based on asset-light global deployment and strong partnerships with the best in the industry, is entering a new level of maturity with the valued support of some of the most influential market-makers in mobile devices,” said Jean-Francois Baril – Executive Chairman and Co-Founder, HMD Global.

Florian Seiche, Chief Executive Officer, HMD Global said, “Since the very beginning, HMD Global has worked to build strong bonds with our strategic partners. This additional investment further validates our long-term business strategy and is evidence of our collective mission to make modern mobile technology accessible to everyone. Security, reliability and dependability are the cornerstones of our offering, and we will ensure we are using these funds to deliver the best experiences people have come to expect from a Nokia phone.”

Since the company began its operations in 2016, HMD Global is now active in 91 markets across eight regions and 250,000 retail outlets and has sold over 240 million phones to date.

About the author

Nikhil Agrawal

An IT Professional by qualification, now he works as the editor-in-chief, Webmaster, & Managing Director at Gadgets Beat. He runs a number of other technology websites as well. Got a scoop? Get in touch with me at editor@gadgetsbeat.com

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