Nokia CEO confirms return to smartphone industry

Nokia plans to develop, design and license phones to other manufactures in 2016.

Nokia sold its devices and services to Microsoft last year  for $7.2 (£4.5bn) billion. Under rules agreed with Microsoft in return for the sale of Nokia’s phone, Nokia cannot currently use its name on handsets until the fourth quarter of 2016.

Rather than build any new phones , Nokia is planning to license its designs out to other manufacturers, similar to Google with its Nexus brand, which has appeared on products made by Samsung, LG and Motorola. The company’s CEO told Manager Magazin  that they ”will look for suitable partners,”  to release the devices when the right time comes.  Rajeev Suri also stated that they  ” would simply design them and then make the brand name available to license.” 

Nokia is also looking to sell its mapping platform, called Here. Many tech giants showed their interest in buying here including Uber.

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Category News, Smartphones

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