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HMD Global raises $ 100 million

HMD Global raises $ 100 million
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Christian Boas

The chinese smartphone maker HMD Global has raised $ 100 million in its recent round of financing to strengthen the Nokia brand for the goal of regaining its position as one of the world’s leading smartphone manufacturers.

Among the investors was Wonderful Stars, a subsidiary of Hon Hai Precision (Foxconn), which will hold a direct stake of 6 percent of the issued shares upon completion of the upcoming transactions by HMD Global. Other buyers include the investment companies Ginko Ventures (via Alpha Ginko) and DMJ Asia Investment Opportunity.

Since HMD Global acquired the Nokia brand for mobile phones in 2016 and signed a license to use the name until 2024, the manufacturer has rapidly expanded the Nokia equipment portfolio and made significant progress in revitalizing the ailing brand. In addition, the Nokia brand is still the world leader in feature phones, the forerunner of smartphones.

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