Nokia 2.0, or HMD Global has been under constant speculation from analysts after it released its flagship Model-8 (M8) in August this year to capture a slice of the market majorly dominated by industry players like Samsung, OnePlus and Apple.
The M8 was released globally on 16th August this year and marked Nokia 2.0’s entry into the premium segment. Initially, the company focused on the classic ‘feature’ phones that were inspired by its previous models like the ‘indestructible’ 3310 model that is famous for its battery life and tough body. Nokia 3310 was redesigned and targeted at the mass markets across countries like India and China.
Nokia 3, 5 and 6 were released in June-July this year and received a favorable response by customers. These models are the traditional touch-screen Android phones that have cashed in the credibility and brand name Nokia possesses among the older generations. These models have sturdy designs, metallic cases and sport 8, 13 and 16 Megapixel rear camera respectively. HMD Global has sold more than a million Android-based Nokia smartphones within this year and state that the demand is higher than their current supply base and they were working to bridge this gap and deliver orders on time.
The Model-8 targets today’s young ‘millennials’ that are constantly involved in creating and sharing content to audiences across multiple social media platforms. The M8 starts the #Bothie culture and presents a special feature that allows customers to use the front and back camera simultaneously on one screen. The Bothie pictures and videos can be shared and live-streamed on Facebook and YouTube. The M8 is powered by the Qualcomm Snapdragon 835 platform that is ‘specially engineered’ for delivering a long battery life.
Microsoft failed to impress markets with the Windows-based Lumia smartphones tenure after it acquired the business for $7.2 Billion in April 2014 and In May this year, The US Tech Giant sold Nokia’s mobile business’s rights to the Finnish firm HMD Global for $350 Million which gives it the exclusive global branding rights for Nokia mobile and tablet in return for royalty payments.
HMD Global was incorporated in December 2016 by former Nokia employees who plan to re-establish the brand on a global scale by focusing on designing and innovating products that are relevant in today’s smartphone market that experiences cut-throat competition in all segments. Currently, Samsung and Apple have dominated the market in the past few years, but Chinese brands like Xiaomi and Vivo have grown significantly and established themselves within the market.
Nokia’s recent efforts have surely created a positive image and sentiment for the brand, however, these sparks are not enough to light the fire. The M8 and other models prove that Nokia is capable of designing great products for its customers, but it will have to work and innovate a lot more before it can re-establish itself among the first, second or third most preferred mobile phone brand that it once was.