NOKIA LOOKS TO MILLENNIALS TO CLAW BACK MOBILE SHARE
HAVING been beaten by smartphone makers from the US, South Korea and China for several years, Finland- based startup HMD Global, the home of Nokia phones, is now ready to fight back.
Tanadet Chungkeavisedd, Thailand marketing lead of HMD Global, said the
here to strengthen its millennial consumers.
HMD Global is the lead global part-
brand among
Android -- Android One -- committing a complete portfolio of Nokia smartphones to the Android One family.
Nokia focuses on the mid-range mar- said Mr Tanadet.
HMD Global has raised $100 million from multiple investors to scale up business operations and fund the company’s growth in its second year. This round of investment has been led by Genevabased Ginko Ventures via Alpha Ginko Ltd, with participation from DMJ Asia Investment Opportunity Ltd and Wonderful Stars Pte Ltd, a subsidiary of FIH Mobile Ltd.
With the latest round of funding, HMD Global’s current market valuation exceeds $1 billion, giving it unicorn status. The company will be making strategic investments in scaling its fastgrowing business operations.
The company plans to aggressively expand its portfolio of Nokia smartphones and double down on increasing channel reach in strategic markets, while continuing to deliver innovation where it matters most to consumers, said Mr Tanadet.
Chief executive Florian Seiche said this is the next chapter for Nokia phones.
“It is our ambition to deliver great smartphones that delight our fans while staying true to our Finnish roots and the hallmarks that the Nokia brand has always been known for. We aim to be among the top smartphone players globally and our success to date gives us
and beyond,” he said.
Set up on Dec 1, 2016, the company
million Nokia branded phones, scaled sales operations in over 80 countries with phone activations s coming comfrom 170 countries. Nokia phones are sold at over 250,000 retail outlets across the e world and more than 600 direct ect trade partners are committed to o the next chapter of Nokia phones s globally, said Mr Seiche.
In financial year 2017, HMD Global posted total revenue enue of $2.1 billion, along with an operational perational loss of $75.8 million.
HMD reported two-thirds of consumers buying a Nokia phone today are
r een