Nokia to Return to Cellphones Via Licensing Pact
18 May 2016 - 9:00PM
Dow Jones News
Nokia Corp., the Finnish company that once dominated the
cellphone industry, is planning a comeback.
The company, which has refashioned itself into a maker of
wireless and Internet network equipment, won't be making cellphones
directly.
Rather, Nokia said Wednesday that it would grant brand, patent
and design rights to a newly created company based in Finland, HMD
Global Oy, through a 10-year exclusive agreement.
The Finnish company said HMD has yet to complete a transaction
with Microsoft Corp. over certain branding and design rights the
U.S. company owns since buying Nokia's cellphone business two years
ago.
Wednesday's announcement marks Nokia's second step toward a
return to the consumer products arena in weeks. Last month, the
company said it planned to buy Withings SA, a French startup that
was among the first companies to make Internet-connected devices
that track users' health.
Write to Matthias Verbergt at Matthias.Verbergt@wsj.com
(END) Dow Jones Newswires
May 18, 2016 06:45 ET (10:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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