HMD Global to aggressively expand its Nokia smartphone range

HMD Global, the company behind Nokia’s new smartphones, has raised $100 million from multiple investors to scale business operations.

A company spokesperson stated that the funds will help the company scale its growth, following the success of its smartphone range.

“This round of investment has been led by Geneva-based Ginko Ventures via Alpha Ginko Ltd,” stated the company.

It takes HMD Global’s current market valuation to over $1 billion, giving it “unicorn status”.

“HMD Global will be making strategic investments in scaling its fast-growing business operations. In 2018, the company plans to aggressively expand its portfolio of Nokia smartphones and double down on expanding channel reach in strategic markets, while continuing to deliver innovation where it matters most to consumers.”

HMD Global added that it shipped over 70 million Nokia-branded phones in 2017, with operations now in 80 countries.

“Today, Nokia phones are sold at over 250,000 retail outlets across the world and more than 600 direct trade partners are committed to this next chapter of Nokia phones globally.”

Now read: New Nokia X6 launched in China

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HMD Global to aggressively expand its Nokia smartphone range