Nokia name to return to mobile phonesReuters Nokia had 40 per cent of the mobile phone market in 2008. Nokia, once the world's biggest maker of mobile phones, was wrong-footed by the rise of smartphones and eclipsed by Apple and Samsung. The Nokia name will return to the mobile phone market after a company backed by one of its former executives teamed up with manufacturer Foxconn to buy the rights to the brand for mobile devices. Microsoft announced simultaneously it would sell its entry-level phones business to HMD and Foxconn subsidiary FIH Mobile. The products will be made by Taiwan's Foxconn and Nokia will receive an undisclosed royalty on sales, covering both brand and intellectual property rights.

Source: Stuff May 18, 2016 15:07 UTC