By John Glenday

Microsoft has conceded its $7.2bn acquisition of Nokia in 2014 was a bad call by offloading its feature phone business to HMD Global, for $350m.

The budget end of the phone market remains strong in some parts of the world with consumers drawn to a range of low powered devices capable of running just a small number of apps with sales of over 400m units recorded in 2015.

Under the terms of the deal HMD, a partnership between private equity firm Smart Connect and Taiwanese firm Foxconn, will continue to use Nokia branding for a period of ten years.

HMD chief executive Arto Read full story ›

Source: The Drum