HMD Global, the home of Nokia phones has recently closed 230 million USD in the first closing of its current funding round from some of its top global strategic partners.
HMD Global has established itself as a leading feature phone manufacturer in terms of the value, also differentiating the Android smartphone offering. The Nokia smartphones sport a premium Nordic design that is said to be inspired by the company’s European heritage, superior product quality, premium ZEISS imaging experience, market-leading reliability, 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, as the only key European smartphone maker has been increasingly gaining popularity with both enterprises and consumers that strive pure, secure, and up-to-date smartphone experience. Hence, HMD Global looks forward to leveraging the investment in four key areas.
HMD Global focus areas to leverage the investment
- HMD’s mission to make 5G smartphones accessible to consumers across the world with an emphasis on strong partnerships with US carriers.
- Transitioning to digital-first offerings as part of a new post-COVID reality.
- Expand the presence in key growth markets including the recently introduced operations in Brazil as well as Africa and India.
- Strengthen its leading position beyond just hardware and into a holistic mobile service provider.
As of now in 2020, the company has 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 new research and development Center of Excellence in Tampere, Finland.
While the Executive Chairman and Co-Founder of HMD Global, Jean-Francois Baril said, “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. I am extremely proud of our significant achievements to date and also thrilled about the immense opportunity before us to accelerate our journey towards excellence.”
Similarly, the Cheif Executive Officer, Florian Seiche stated, “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. As the only major European smartphone manufacturer, we remain true to our Finnish roots and the hallmarks that our customers trust Nokia phones to be synonymous with. With the support of our heavyweight partners, I am truly excited for the next chapter of Nokia phones.”
HMD Global commenced its operations in the year 2016. And it’s active in 91 markets across eight regions with 250,000 retail outlets and phone sales numbering to 240 million as of now.