Nokia Launches Smartphones In Range Of $89-$415 Featuring 5G Technology

HMD Global Oy, an Espoo-Finland-based startup, announced six new Nokia-branded devices ranging from $89 to $415 on Thursday.

What Happened: HMD holds the license for the Nokia brand for phones and tablets, which is a registered trademark of the Nokia Corporation NOK

The Finnish company announced two smartphones in the X Series. The Nokia X20 with a 32 MP front camera and 64 MP quad camera on the rear is priced at the global average recommended retail price of EUR 349 ($415).

The Nokia X10 is aimed at those with sub- EUR 300 budgets and has a 48 MP quad camera. The Global average RRP for the device is EUR 309 or ($367).

The X20 device comes with a “Dual Sight” feature that activates two cameras simultaneously allowing users to capture multiple sides or multiple angles, according to HMD Global. Both X Series devices feature the latest 5G technology, which the company dubbed as providing "experiences and quality far above their price."

See also: How to Buy Nokia (NOK) Stock

Two phones each were announced in the economical G and the C ranges. The G20 has an RRP of EUR 159 ($189) and the G10 of EUR 139 ($165).

The C20 has the RRP of EUR 89 ($106), while the C10 is the lowest priced at EUR 75 ($89). HMD claims that the C10 has a “sleek Nordic design” and is “built to last.”

Why It Matters: HMD Global said it was launching a mobile virtual network operator firm, HMD Mobile, which will become active in the United Kingdom in April.

The company said it will also launch Nokia Lite Earbuds in select markets globally in mid-April with an RRP of EUR 39 ($46).

HMD global investors include Nokia, Alphabet Inc GOOGL GOOG subsidiary Google and Qualcomm, Inc QCOM, as per Crunchbase.

In 2016, Microsoft Inc MSFT announced the sale of its entry-level feature phone assets to HMD Global and a subsidiary of Hon Hai Precision Industry Co. Ltd HNHPF, also known as Foxconn, for $350 million.

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