For many people above 25, their first phones were bricklike Nokia. These phones lasted forever, came with a ton of faceplates, and had Snake. Now Nokia is trying to make a comeback in the mobile market - against all odds.
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The struggling Nokia was sold to Microsoft at the end of 2013 in a pretty quiet deal after the failure of Windows Mobile. Microsoft absorbed Nokia and included their brand on featured phones and producing the Microsoft Lumia smartphone.
In May, Microsoft dumped their feature phones because of poor sales. Foxconn bought it for $350 million but Nokia signed an agreement to license its brand to HMD Global Oy, a Finnish company that they had originally planned to work with. The phones they developed would be manufactured and distributed by Foxconn, according to TechCrunch.
The company announced that they will work with Pekka Rantala, the one-time CEO of Angry Birds and creator of Rovio, who stepped down in 2015. This exec had a lengthy stint at Nokia from 1994 to 2011, so he is familiar with the branding and the way the company works. He will be joining as Chief Marketing Officer for the company.
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HMD is currently managed by fellow Nokia vet Arto Nummela and has yet to announce any specific plan. The Nokia deal gives the company the naming and patent rights for the phones in exchange for royalty payments. Nokia will provide some oversight on the board, though it won't have a direct investment as per the deal.