Nokia Smartphone Maker HMD Global Bets Big On India; Working To Make India It's Prominent Sourcing Hub

Nokia Smartphone Maker HMD Global Bets Big On India; Working To Make India It's Prominent Sourcing HubNokia begins manufacturing of 5G equipment in its Chennai Plant. (David Ramos/Getty Images)

In a boost for India's efforts to attract global investments, Finnish smartphone maker HMD Global which is known for its Nokia brand is working towards making India its prominent sourcing hub for global markets, reports Economic Times.

The company has said that it is presently building the capabilities for smartphone manufacturing while also focusing on bringing 5G smartphones at mass-market price points in the country. The company said that it is evaluating different options and looking at what it can do in India from the sourcing point of view, which encompasses different stages of phone manufacturing.

The company is looking to work with Indian original device manufacturers (ODMs) and electronics manufacturing services (EMSs) to build capabilities for domestic and global supplies. The company already has several ODM partners who have setups in India. It has also joined hands with Indian partners who manufacture different components.

Recently, Indian smartphone maker Lava International had also begun to manufacture smartphones for HMD Global through its EMS business at its facility in Uttar Pradesh (UP)'s Noida.

Also, HMD had recently raised $250 million from investors including Google and Qualcomm and is using a large part of the funding to expand its operations in India.