Google and Qualcomm have teamed up to keep Nokia smartphones. The companies took part in a round of investments in the Finnish manufacturer HMD Global, which has been holding the license to manufacture the brand’s devices since 2016.
In addition to Google and Qualcomm, Nokia itself became a participant in the investment round. They amounted to $ 230 million. How much each company contributed is not reported.
This event is interesting both for the amount of investments and investors. Google may have ended up there due to its interest in promoting the Android operating system. HMD Global reportedly wanted to expand into the markets of Brazil, India and Africa. That is, Google will be able to distribute Android in growing markets.
Qualcomm is credited with wanting to hedge against the actions of the US government, which has recently been actively attacking the company’s Chinese partners.
Note that recently it became known about the drop in sales of smartphones under the Nokia brand in the first quarter of 2020. Sales amounted to only 1.7 million smartphones, although in the second quarter of 2019 they were equal to 4.8 million. Investments in such a situation will probably not be superfluous.