HMD Taps India for Global Nokia Phone Exports

HMD Global strategically positioned India as a key export hub for Nokia phones amid the shifting dynamics of the global trade landscape. The ongoing U.S.-China trade tensions have created a need for alternative supply chains, and India is emerging as a preferred manufacturing destination for many companies, including HMD.

With an existing facility in Noida, HMD is ramping up its local production and export efforts to capitalize on these changes.

India’s production capabilities align with HMD’s ambition to expand its global footprint while benefiting from the cost efficiencies and incentives offered under the Indian government’s “Make in India” initiative. By focusing on exporting Nokia devices from India to various markets, HMD mitigates risks associated with supply chain disruptions and strengthens its position in the growing Indian smartphone and feature phone market.

The following numbers show that India is still an important market for HMD. According to Counterpoint Research, about 160 million smartphones were sold in India in 2023, and at present, they have about 1-2% market share in the country.

This move could help HMD adapt to geopolitical and economic challenges and support India’s aim to increase its share in global exports.

Source

Cheers Bobert for the tip 😉