HMD raises $230 Mn from Google and other strategic partners

By Vasan G.S. • Updated On 12 Aug 2020

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HMD Global, the Nokia brand licensee, has secured funding of around 230 million USD from its strategic partners like Google and Qualcomm. This is said to be one of this year’s largest funding raised in Europe.

But more importantly, such a cash injection has a lot of implications — not just for HMD’s 5G and mobile business, but for its partners too. What they are, let’s find out.

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The $230 Million Investment: Objectives

HMD benefits in 4 core areas:

• Nokia, as you may already know is a key player in the 5G network equipment business. This new investment will boost this arm of Nokia and help the company’s 5G smartphone business as well. It will be able to penetrate its 5G-enabled phones into more markets.
• Next up, HMD Global will be better equipped to focus on digital-first offerings.
• It will also enable the company to invest more in mobile software, security, and telecom services.

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As for Google and Qualcomm, as market leaders of their own fields, they both have their interests in propping Nokia as top smartphone OEM. Google, for instance, has its software within Nokia phones. The latter being a European entity means it’s far from the US-China trade tussle. And also a safe hedge against the dent thus caused in their businesses.

How all these strategic bets come to fruition is something to be seen.

Vasan G.S.

An inquisitive mind who spends a big chunk of the day keenly tracking every emerging detail and is responsible for quickly passing on important developments to Smartprix followers. He loves to stay in his bubble scripting his destiny involving amazing technology and people with good character, passion, and brilliance.

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