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Google and Qualcomm invest in Nokia phone maker HMD Global

By Cookie Monster - on 12 Aug 2020, 8:31am

Google and Qualcomm invest in Nokia phone maker HMD Global

The Nokia 6 phone. <br>Image source: Nokia

Google and Qualcomm are the latest companies to invest in HMD Global, the "home of Nokia phones". 

According to VentureBeat, HMD Global raised $230 million in its latest round of funding from Google, Qualcomm, Nokia Technologies and several undisclosed investors. A company spokesperson also said that HMD Global's valuation exceeds $1 billion.

The $230 million investment will reportedly help HMD Global "accelerate" its goal to make 5G phones accessible to more consumers around the world. Based on Counterpoint Research's data, HMD Global currently has 1% share in the global smartphone market. 

HMD Global announced last year that it is working with consultancy firm CGI and Google Cloud to move and store phone activation and performance data at the Google Cloud Region in Hamina, Finland. This partnership will improve the speed and accuracy of device enhancements delivered to Nokia phones.

Source: VentureBeat