HMD Global – the maker of Nokia phones has just revamped its balance sheet. The enterprise announced that it has received $230 million (USD) in investments from its strategic partners. The names of investors are not disclosed in the PR but NokiaMob learned that these include the likes of Google, Qualcomm, Nokia Corporation (technologies division), and others that are unknown.
With $230 Million in the bank, there’s good new hope for HMD Global to further push its story of Nokia phones. HMD Global aims to utilize the incoming cash into four key areas, which include:
• Making the 5G smartphones more accessible to consumers. HMD will also invest into building better relationships with carriers in the USA to push its 5G-enabled products in the region.
• Digital-first offerings as part of a new post-COVID reality.
• Expand presence in key growth markets including the recently introduced operations in Brazil, as well as Africa and India
The most interesting bit is about the investment from Nokia Technologies, which hasn’t previously shown any special interest in taking a stake in HMD Global. But since we don’t know the scale of their investment, maybe it is nothing beyond securing a deal wherein HMD Global will utilize more solutions from Nokia Technologies such as OZO Audio.