Nokia signed an agreement that essentially licensed its brand to HMD Global Oy, a newly founded Finnish company that planned to create phones which would be manufactured and distributed by Foxconn.
Now HMD has hired Pekka Rantala, the one-time CEO of Angry Birds creator Rovio, who stepped down in 2015 after tough time with the mobile gaming company. He actually did a lengthy stint at Nokia from 1994 to 2011 and knows his onions. Apparently he will be signing up as the Chief Marketing Officer for the company.
HMD is currently run by Nokia vet Arto Nummela who has not said how he will save the mobile company. The Nokia deal provides the company with naming and patent rights, in exchange for royalty payments. Nokia is providing some oversight via a position on the company’s board, though it’s not investing directly in HMD, as per the deal.