The phones are reportedly slated to make a comeback with Nokia branding
Shares fell almost 18 per cent to 4.19 euros in Helsinki. One bright spot was growth in licensing fees in the profitable Nokia Techologies unit and a one-off payment of from a settled patent arbitration with South Korea's LG Electronics Inc.
Finland's Nokia (NOKIA.HE) on Thursday announced that its deal with HMD Global Oy, a new company formed to revive the Nokia brand in phones, has come into force and that HMD has opened for business.
HMD said the first smartphone products carrying Nokia's name would be launched in the first half of 2017, while the company will continue operating its Nokia-branded low-cost phone business.
"With a leading position in the feature phone market already, HMD has a significant global foothold from day one," HMD said in a statement.
( Source : reuters )
Next Story
