Adam Ferguson, HMD’s Global Product Marketing Manager, told Android Authority in an interview: “Making an $800 phone doesn’t make any sense to us right now.”
The Nokia 9 PureView launched in 2019 and it was an attempt to bring the brand back into the premium camera phone market it once dominated. Unfortunately, the new PureView was not well received, and rumors of the next version were always accompanied by rumors of delays. No Nokia flagship since PureView has arrived, and there may be no high-end phones coming in the near future.
HMD Global said it is and will continue to focus on its core business – mid-range and low-cost smartphones as well as feature phones. They wanted Nokia phones to be known as devices that last several years, have batteries that last for days, and come at an affordable price point.
The newly implemented strategy has brought about positive changes. The company recently celebrated its first year of operating profit. In fact, the company has been profitable since the third quarter of 2021, and the fourth quarter of 2021 is the most profitable quarter in the short-term history of the company.
According to data from Strategy Analytics, in the fourth quarter of 2021, HMD Global shipped 3.2 million smartphones, compared with 2.8 million units in the fourth quarter of 2019. Revenue from the smartphone segment increased 41% year-on-year in 2020-2021.
To revive the Nokia brand, HMD Global started to reach the small segment, instead of trying to compete with the big names. Trying to compete in the top segment is tough, especially for smaller companies, which have a harder time securing critical components in times of parts scarcity.
Market analysts say that perhaps sticking to the low-end and mid-range markets is actually a more viable path for HMD Global at this time.
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