The Nokia brand is to make a mobile device return-- a Finland-based company named HMD Global Oy (HMD) gets the exclusive global license for Nokia-branded mobile phones and tablets.
In a simultaneous announcement Microsoft starts shedding its mobile phone ambitions through the sale of its feature phone business (including brands, software, design rights and a Vietnam manufacturing facility) to HMD and FIH Mobile, a newly created Hon Hai/Foxconn subsidiary. The deal is worth $350.
However Microsoft insists it is not giving up on Windows Mobile-powered smartphones, and will continue supporting such devices and OEM partners.