HMD raises $100 million to convey much more Nokia telephones to market – TechCrunch


HMD International has been one of many cellular world’s largest shock hits in recent times. Based by former Nokia execs, the Finnish firm has made a reputation for itself reviving the dearly departed model on Android smartphones to nice impact. And it simply managed to lift one other $100 million, led by Ginko Ventures’ Alpha Ginko VC department.

The brand new spherical places the corporate’s valuation at over $1 billion, in keeping with a HMD. It’s set to make use of this newest spherical to push much more “aggressively” into the cellular class with its branded units, “doubl[ing] down on increasing channel attain in strategic markets whereas persevering with to ship innovation the place it issues most to shoppers.”

Not that the corporate’s been cautious in its push to date, after all. HMD already has A LOT of choices on the market for a enterprise that’s basically been in existence for a 12 months and a half. At MWC again in February, it introduced 5 new telephones sporting the legacy model, together with a reboot of the 8110. The corporate has additionally been positioning itself in growing markets, the place the Nokia title nonetheless has a good quantity of cache, by wholeheartedly adopting Google’s Android One program.

It’s a difficult line to stroll, between an embrace of retro appreciation and an try to supply innovation. Persevering with its profitable run goes to require extra than simply taking part in upon consumer nostalgia for a bygone model.

The query shifting ahead is whether or not HMD will be capable to reassert Nokia as a very bleeding-edge model, because it continues to flood the market with branded units. In spite of everything, the smartphone market is beginning to plateau and far of the competitors has begun to reduce their releases.

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