HMD World wide has been just one of the cell world’s greatest surprise hits in new decades. Started by previous Nokia execs, the Finnish enterprise has designed a identify for itself reviving the dearly departed brand name on Android smartphones to great impact. And it just managed to increase an additional $100 million, led by Ginko Ventures’ Alpha Ginko VC branch.
The new round puts the company’s valuation at above $one billion, in accordance to a HMD. It is set to use this hottest round to thrust even extra “aggressively” into the cell group with its branded products, “doubl[ing] down on increasing channel get to in strategic marketplaces even though continuing to produce innovation exactly where it matters most to people.”
Not that the company’s been careful in its thrust so considerably, of course. HMD previously has A Great deal of possibilities out there for a business enterprise that’s essentially been in existence for a yr and a half. At MWC back again in February, it announced 5 new telephones sporting the legacy brand name, such as a reboot of the 8110. The enterprise has also been positioning itself in acquiring marketplaces, exactly where the Nokia identify however has a fair volume of cache, by wholeheartedly adopting Google’s Android A person system.
It is a challenging line to walk, between an embrace of retro appreciation and an endeavor to provide innovation. Continuing its profitable run is likely to call for extra than just participating in upon consumer nostalgia for a bygone brand name.
The question moving ahead is no matter if HMD will be in a position to reassert Nokia as a genuinely bleeding-edge brand name, as it continues to flood the market with branded products. Immediately after all, the smartphone market is beginning to plateau and a lot of the competitors has started to scale back again their releases.