Nokia commits to aggressive growth

With $100m of funding.

HMD Global, manufacturer of Nokia phones, recently announced it has raised an additional US$100 million from multiple investors to fund its next phase of growth.

The company plans to aggressively expand its portfolio of Nokia smartphones in 2018 and double-down on expanding channel reach in strategic markets, while continuing to deliver innovation where it matters most to consumers.

“We aim to be among the top smartphone players globally, and our success to date gives us the confidence to further continue on a growth path in 2018 and beyond,” HMD Global CEO, Florian Seiche said.

Since Mobile World Congress (MWC) 2017, HDM has introduced 16 new devices and global partnerships with industry heavyweights including Google and Zeiss. At the 2018 MWC HDM Global announced it would be the lead global partner for Google’s flagship program for Android – Android One, committing a complete portfolio of Nokia smartphones to the Android One family.

In the 2017 financial year, HDM Global posted total revenue of US$2.13 billion with an operational loss of US$77 million. Two-thirds of consumers buying a Nokia phone today are said to be below the age of 35 years.

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