The former Finish phone giant Nokia is looking to make a comeback into the smartphone arena after being bought by Microsoft in 2014.
Hoping to cash in on Nostalgia and a recognized brand, the Finish firm will look to re-enter the market in 2017 after Microsoft relinquished the Nokia brand name to former employees of Nokia.
The company called HMD Global has also secured a deal with iPhone manufacturer FoxConn and aims to release an Anroid based device by early 2017.
The head of HMD Global, Arto Nummela, said: “Consumers may be carrying different smartphones now, but are they really in love and loyal to those brands?”
In a smartphone industry dominated by Apple and Samsung, HMD Global hopes to use Nostalgia to win over its huge former user base.
Many of Apple and Samsung’s users will most likely have used a Nokia at some point during the beginning of the mobile phone era.
Nummela said: “We want to be one of the key competitive players in the smartphone business.”
“For a new entrant, having an established brand provides it with an instant on-ramp,” said Ben Wood from analysts CCS Insight. The barriers to entry for the Android phone space are low.”
“What HMD has is the Nokia brand and management experience. The key to its success will be driving scale.”
On Thursday HMD had taken over the Nokia phone business from Microsoft after selling the business in May.
In the deal the company now has exclusive use of the brand on mobile phones and tablets for a decade. In return it must pay Nokia royalties for the brand and patents.
Nokia helped define the mobile phone generation with its early adaptation in the early 2000’s quickly becoming the dominant player in the market. However the company failed to keep up with new trends and its market share dropped rapidly after the release of the Apple iPhone in 2007.