Microsoft to sell Nokia branding rights

Q.  Which US technology major has agreed to sell Nokia branding rights to Finnish firm HMD Global?
- Published on 20 May 16

a. IBM
b. Apple
c. Microsoft
d. None of the above

ANSWER: Microsoft
 
US technology major Microsoft, the owner of Nokia’s mobile device business, has agreed to sell the latter’s branding rights to Finnish firm HMD Global and contract manufacturer Foxconn for $350 million. In a separate agreement, Nokia Technologies will grant HMD Global Oy (HMD), a newly-founded company based in Finland, the exclusive global licence to create Nokia—branded mobile phones and tablets for the next 10 years.
  • Under the pact, Nokia Technologies will receive royalty payments from HMD for sales of Nokia-branded mobile products, covering both the brand and the intellectual property rights.
  • Microsoft also said it has signed a pact to sell the company’s entry-level feature phone assets to FIH Mobile, a subsidiary of Hon Hai/Foxconn Technology Group, and HMD Global Oy for $350 million.

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