The new firm will be headed by former Nokia executive Arto Nummela. Since Nokia sold its phone business to Microsoft about two years ago, he's been overseeing their mobile business in Asia, the Middle East and Africa. "We will be completely focused on creating a unified range of Nokia-branded mobile phones and tablets, which we know will resonate with consumers," says Nummela. "Branding has become a critical differentiator in mobile phones, which is why our business model is centred on the unique asset of the Nokia brand, and our extensive experience in sales and marketing," he adds.
The rights to use the Nokia brand on mobile phones and tablets is exclusive for ten years. At the same time, the rights to use the Nokia brand on entry-level feature phones were sold to both HDM and FIH Mobile, a Taiwanese subsidiary of Foxconn at a price of 350 million dollars, including the transfer of 4500 employees.