HMD Global raises $100 million in new funding round

Having grossed $2.1 billion in 2017, HMD Global is aiming to double its sales channels in key markets in 2018.

On Monday, HMD Global, the Finnish company licensed to sell Nokia-branded phones, stated it had raised $100 million in a new funding round aimed at boosting its growth.

In 2017, its first year of operations, HMD sold nearly 70 million Nokia phones and generated sales worth $2.1 billion (1.8 billion euros).

It aims to channelise the proceeds for expanding its Nokia smartphone range and double its sales channels in key markets during 2018.

New investors include DMJ Asia Investment Opportunity Ltd and Foxconn’s subsidiary FIH Mobile.

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