HMD Global designs and sells Nokia-branded Android smartphones that feature premium ZEISS imaging, market-leading reliability, and security promises including three-year monthly security updates and two-year Android upgrades under Android One. Since beginning operations in 2016 the company is active in 91 markets across eight regions, sells through 250,000 retail outlets, and has sold over 240 million phones. HMD has broadened its software and services footprint, launching the HMD Connect international data roaming service, enhancing mobile cybersecurity through the acquisition of Valona Labs assets, and opening an R&D Centre of Excellence in Tampere, Finland. The company says it is accelerating a shift to digital-first offerings in a post-COVID reality and strengthening partnerships with US carriers to make 5G smartphones more accessible. HMD plans to expand its presence in key growth markets including Brazil, Africa, and India and to evolve beyond hardware toward a more holistic mobile service provider. The recent strategic investment is intended to fuel these priorities and deepen collaboration with major industry partners. HMD Global is a Finnish company founded by former Nokia executives that builds Nokia‑branded Android smartphones. The company has been in operation for about a year‑and‑a‑half and has positioned itself especially in developing markets, adopting Google’s Android One program. Its product slate recently expanded at MWC where HMD announced five new phones, including a reboot of the 8110. HMD says it raised $100 million in a new financing that values the company at more than $1 billion. The company plans to use the capital to push more aggressively into the mobile category, doubling down on channel expansion in strategic markets while continuing to deliver product innovation. The article notes a potential headwind as the broader smartphone market begins to plateau, which could complicate HMD’s growth strategy.

Total raised

$330M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2020