Nokia’s return to Smartphone space moves past the rumor phase as the Finnish giant has officially confirmed its 2017 comeback during Its Capital Markets Day event presentation for investors.
With its brand awareness exceeding 95 percent, it was only a matter of time before Nokia phones resurfaced in the market. Nokia’s inevitable return is reportedly projected in Q2 2016, which hints at an MWC 2017 launch.
The new Nokia phones and accessories will be manufactured and marketed by HMD, a new entity that combines R&D and manufacturing expertise of Foxconn and Nokia’s brand, patents and oversight. HMD has exclusive rights to use Nokia brand for the next 10 years. During the first three years, the projected marketing budget is 500 Million Euros (Minimum). That all but guarantees a big splash!
Of course, these new smartphones will be running Android as the base operating system.
Moving forward, Nokia will focus on VR, Digital Health and expand its reach in Automative and Consumer electronics sectors. The operating model depicted in the slide below nicely summarizes company’s new outlook.