“The new smartphones and tablets will be based on Android, uniting one of the world’s iconic mobile brands, Nokia, with the leading mobile operating system and app development community,” read a press release issued by the brand.
Under a new agreement, Nokia Technologies has granted HMD, a new company led by some of the world’s top mobile specialists, an exclusive global license to create a full range of Nokia-branded smartphones, tablets, and feature phones for the next decade.
Under the agreement, Nokia Technologies will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both brand and intellectual property rights.
Nokia will provide HMD with branding rights and cellular standard essential patent licenses in return for royalty payments, but will not be making a financial investment or holding equity in HMD. Nokia Technologies will take a seat on the Board of Directors of HMD and set mandatory brand requirements and performance related provisions to ensure that all Nokia-branded products exemplify consumer expectations of Nokia devices, including quality, design and consumer focused innovation.