HMD Global to launch first branded smartphone in India in first half of 2024

Finnish company HMD Global, the maker of Nokia devices, is planning to launch smartphones under its own brand in the first half of calendar year 2024. To start with, HMD-branded devices will be available in the Indian market, which the company states is the priority market for the brand. 

Ravi Kunwar, HMD Global’s Vice President for India and APAC, told Business Today, “There are close to almost 8 billion people in the world today. Everyone is different, everyone has their own needs. And there is definitely a set of consumers who go with the standard Nokia offering. But equally, we believe there is a lot of innovation which can be done to the consumers who are looking for something different and that's the space where this whole premium HMD kind of branded phones come in.” HMD Global branded phones will be available anywhere between quarter one and quarter two of 2023. 

While Kunwar did not disclose the features or pricing the company will be focusing on, he stated HMD Global smartphones will be premium offerings. However, he was quick to clarify that premium is not just linked to price. “I think it’s more what value for money we give in that particular price point, versus what we believe the consumers in India are actually getting. Premium from our perspective is if we are giving that value for money, which the consumers don’t see in a lot of other options which are available.” 

While Kunwar did not comment on the market share the company is aiming to acquire with Nokia and HMD branded phones by the end of CY24, he stated that “we expect that with both the offerings, consumers who are currently not with us, will shift.” 

As the current set of Nokia phones sold within the country is assembled locally, HMD Global plans to manufacture the new phone within that country. “India is fast developing into a manufacturing hub. That’s the whole push from our government in terms of how do we compete at a global scale. Our endeavour is to have India as an ecosystem where maximum export at competitive price and best quality can happen. So, if I were to look at HMD India, from that perspective, yes that’s the strategy. If I can cater to the entire global need from here, good luck to me.” 
  

Currently, 99 per cent of Nokia phones sold in the country are assembled in India, for which HMD Global has partnered with multiple ODM and EMS.