Nokia said it has signed an exclusive 10-year licensing deal with the Finnish company HMD Global to create Nokia-branded phones and tablets, manufactured by a subsidiary of Taiwan's Foxconn.
Once the world's biggest maker of mobile phones, Nokia was wrongfooted by the rise of smartphones and sold its entire handset business to Microsoft in 2014.
However, it held on to its phone patents and started to prepare a comeback by brand-licensing, although it has had to wait due to a non-compete deal with Microsoft.
Nokia, which currently makes most of its sales by telecom network equipment, said on Wednesday it will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights.
“Instead of Nokia returning to manufacturing mobile phones itself, HMD plans to produce mobile phones and tablets that can leverage and grow the value of the Nokia brand in global markets,” said Ramzi Haidamus, The head of Nokia’s patent unit.
Earlier on Wednesday, Microsoft announced it would sell its entry-level phone assets to Foxconn’s subsidiary FIH Mobile and HMD for US$350 million.
As part of that deal, HMD is buying from Microsoft the rights to use the Nokia brand on basic phones until 2024.
“Together, these agreements will make HMD the sole global licensee for all types of Nokia-branded mobile phones and tablets,” HMD said.
HMD, a newly-established firm, is owned by Smart Connect, a private equity fund managed by the former Nokia executive Jean-Francois Baril, and its management.
Nokia declined to give any timetable for new devices. The deal between Microsoft and HMD is expected to close in the second half of 2016.
Microsoft has struggled with the phones business and last year wrote off $7.5 billion from the former Nokia unit.
However, Microsoft on Wednesday said it will continue to develop its Lumia smartphones.
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
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Day 5, Abu Dhabi Test: At a glance
Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.
Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.
The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.
