HMD Global, responsible for the Nokia revival, takes investments from Google and Qualcomm

Ben Schoon | Aug 12 2020 - 6:57 am PT

Nokia smartphones have seen a revival over the past few years and they’ve proven very popular too. Now, HMD Global, the company responsible for Nokia smartphones, has taken in funding from some major companies including Google.

In a press release this week, HMD reveals that it has raised $230 million from strategic partners. Those partners include Google and Qualcomm, major players in making the Nokia revival possible in the first place.

According to HMD Global, this funding from Google, Qualcomm, Nokia Technologies, and other undisclosed investors will be used to bolster the brand’s 5G portfolio as well as transitioning to new “digital-first” offerings in response to COVID-19.

The investment will further fuel HMD Global’s strategic vision in four key areas. Firstly, it will accelerate the company’s mission to make 5G smartphones accessible to consumers across the world, with an emphasis on strong partnerships with US carriers. Secondly, HMD Global will further transition to digital-first offerings as part of a new post-COVID reality. It will also expand its presence in key growth markets including the recently introduced operations in Brazil, as well as Africa and India, and finally – the investment will help the business strengthen its leading position beyond just hardware and into a holistic mobile service provider. This year alone, HMD Global launched its international data roaming service, HMD Connect, enhanced its mobile cybersecurity capabilities with the acquisition of assets of Valona Labs, and built dedicated resources on software, security and services with a new research and development Centre of Excellence in Tampere, Finland.