Insta
Nokia Phone Maker HMD Global Set To Invest Large Part Of Newly Raised $230 Million Fund To Turn India Into Its Export Hub
Swarajya Staff
Aug 12, 2020, 08:00 AM | Updated 08:00 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
In a positive development, the maker of Nokia branded smartphones, HMD Global is aiming to turn India into its future export hub, and plans to use a large part of its newly-raised $230 million funds to manifest its ambitions in the country, reports Economic Times.
With new funds raised from investors and technology majors like Nokia Technologies, Google and Qualcomm, HMD now plans to work with local contract manufacturers to bring low-cost 4G and affordable 5G smartphones in the coming future.
It should be noted that US-based Google and Qualcomm had announced a similar partnership with Mukesh Ambani led Jio Platforms last month while investing massive funds for a minority shareholding in the Reliance Industries Limited (RIL)'s subsidiary.
HMD Global's chief executive Florian Seiche said that the company is planning to also partner with big telecom operators. He said, "I definitely see there's a great opportunity in making deeper partnerships also with operators and other channel partners in India."
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.