Nokia To Make A Come Back In Smartphone Space Next Year

BANGALORE: The global smartphone market is about to see the comeback of its erstwhile largest mobile phone manufacturer in 2016, reports TOI.

Currently Nokia is awaiting permit from the agreement with Microsoft and then the company would begin with the licensing and designing of the new handsets.

Nokia CEO, Rajeev Suri, in an interview said, "We will look for suitable partners….Microsoft makes mobile phones. We would simply design them and then make the brand name available to license."

After  facing stiff competition from rivals in the smartphone industry, the company was finally acquired by Microsoft in 2014. However, the company didn’t give up entirely and rolled out its N1 tablet licensed by Foxconn, Taiwanese manufacturer.

Microsoft is anticipated to pull out $7.2 billion that the company invested in the handsets and incurred a loss in the smartphone market.

Microsoft had appointed Stephen Elop as Nokia’s chief executive who reportedly is putting down for hardware devices to return to the software space.

Nokia’s mapping business that earned interest from BMW, Audi and Mercedes, Silicon Valley and internet and tech businesses from China, is also planning to move back to private ownership.

The company is speculated to pursue similar strategy for coming back to smartphone space as it did while launching N1 tablet.

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