Nokia planning to re-enter mobile phone market

Finnish company Nokia, that once dominated the mobile phone industry, has said that it has plans to reenter the mobile phone market. Spokesperson of the company Robert Morlino, in a blog post wrote, it does have plans to re-enter mobile phone industry but will not be following the past strategy to design and build its own products.

Morlino informed that instead of manufacturing its own products it will engage in a ‘brand licensing model and will produce the manufacturers the design ideas with the Nokia branding. The blog post added that Nokia will require its partner to handle all the manufacturing, sales, marketing as well as customer support for the model.

The spokesperson added, “To summarize, we will look for the right partner who can take on the heavy lifting and work closely with us to deliver a great product”. Getting back in to the smartphone business will not be an easy task for the company. Nokia was once dominant but failed to keep up in the touch screen smartphone market which was later taken over by other biggies including Apple and Samsung.

In 2014, Microsoft acquired Nokia’s phone for $72.2 billion . Microsoft has the rights to use the Nokia name for a period of time and will continue to produce Nokia phones through 2015.

Photo Credits: independent