It is official, HMD Global Oy is now the new owner of the Nokia brand name and the company has the license to release Nokia-branded phones for the next ten (10) years. This was contained in a press released made public earlier today by the Finnish company.

According to the release, the license is a global one that spans the entire world with the exception of only Japan. The license gives HMD the exclusive right to use the Nokia brand name on mobile phones and tablets for the period of the license. The press release also disclosed that Nokia will get royalty payments from HMD for every Nokia branded phone and tablet sold and the royalty covers both brand and intellectual property rights.

This announcement is coming less than six months after the Finnish company was revealed to have signed a strategic licensing agreement with Nokia to have the rights to release Nokia branded phones for the next decade. The announcement then, could be an indication that the company is ready to kick-start the release of smartphones and tablets that would signal the grand entry of the Nokia brand into the market under HMD’s leadership.

Read More: Rumor: Nokia D1C to Come in Two Versions Different in RAM, Camera & Display Sizes

The company has hired a couple of former Nokia Execs in its bid to re-jig the ailing giant which still has a large follower-ship worldwide. HMD global Oy is expected to unveil its first Nokia-branded phones at MWC 2017. The expected phones have appeared in leaks recently, better recalled as Nokia D1C and latest rumor hints at the existence of two variants of the device. The company is also expected to release feature phones, tablets and a host of other products in due course.

via

The post HMD Global Oy Officially Unveiled As the New Home of Nokia-Branded Phones appeared first on Gizmochina.