Wow! Nokia to re-enter mobile, tablet market

Zee Media Bureau

Finnish telecom equipment maker Nokia is all set to make a global comeback into mobile and tablets market.

Nokia has signed an exclusive 10-year licensing deal with Finnish company HMD Global Oy to create Nokia-branded phones and tablets, manufactured by a subsidiary of Taiwan`s Foxconn.

The deal between Microsoft and HMD is expected to close in the second half of 2016.
Microsoft has struggled with the phones business and last year wrote off USD 7.5 billion from the former Nokia unit.

However, Microsoft has said it will continue to develop its Lumia smartphones.