The agreement between Nokia and HMD Global Oy has come into force today to revive the Nokia brand in the global phone market.

 

Nokia has confirmed that the strategic agreement covering trademark and intellectual property rights with HMD Global Oy (HMD), originally announced on May 18, 2016, has entered into force today for the next ten years.

Thus, HMD has completed the transaction between FIH Mobile Limited — a subsidiary of Foxconn Technology Group- and Microsoft to be able to start operations under the Nokia phone brand .

The company’s first smartphones that will be named Nokia will be launched in the first half of 2017 , while the company will continue to operate its low-cost mobile phone business under the Nokia brand .

L Nokia phones remain one of the most popular smartphone options in many markets around the world and HMD will continue to market them as part of an integrated portfolio along with a new range of smartphones and tablets to be announced later.

Under the agreement, Nokia will receive royalty payments from HMD for sales of each mobile phone and tablet, covering both brand rights and intellectual property rights.