And that love isn’t just about nostalgia either – some of the biggest demand we’re seeing for new Nokia smartphones is coming from millennials who want an alternative!” Moving beyond nostalgia “It’s a 152-year-old brand that’s loved across the world. “We were given a once in a lifetime opportunity to revive one of the greatest consumer brands of all time,” he says. Speaking to Marketing Week, Rantala has all the giddy excitement of someone who believes his bosses may just have pulled off the bargain of the century. That includes CMO Pekka Rantala, who previously worked at Nokia for 17 years, latterly as SVP of global marketing, before joining Angry Birds creator Rovio as CEO. HMD Global was formed by former Finnish Nokia employees with the sole purpose of bringing the brand back to the mobile phone market. READ MORE: Nokia on why it is ‘so much more than the 3310’ And the licence to sell Nokia phones was bought by HMD Global. The remaining Nokia business, meanwhile, focuses on new technology including 5G and high-end virtual reality cameras. The Nokia phone business was acquired by a subsidiary of iPhone manufacturer Foxconn for just $350m.
But Microsoft wasn’t even close to recouping its money on Nokia. This brand was worth a towering $300bn and controlled 70% of the mobile phone market share at the height of its powers.
#Nokia 3310 app store license
Nokia phones, it seemed, were destined to become a relic of the past.īut then, in 2016, Microsoft sold its license to sell phones under the Nokia brand. In fact, the deal is thought to have resulted in losses of up to $8bn for Microsoft. Just two years after it was signed, Microsoft was forced to scrap its Nokia-led smartphone business altogether, writing off $950m and cutting 1,850 jobs in the process. Microsoft’s $7.2bn acquisition of Nokia’s devices and services business in 2014 remains one of the most disastrous deals in consumer tech history. Long before app stores were even a thing, the Nokia 3310 introduced millions of us to the concept of mobile phones thanks to its user-friendly interface, robust design and, err, Snake.īut while Nokia will always muster up warm feelings of nostalgia, there remains question marks over whether the brand possesses enough vision to survive in the smartphone era.
The new Nokia 8 smartphone has impressed criticsĮven if right now it’s a Samsung Galaxy or iPhone that sits in your palm, there’s no denying Nokia’s salience as a brand.
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