HMD’s manufacturing partner FIH Mobile reported about $3.6 billion in revenue during the 3rd quarter of 2017. When re-entering the mobile market, Nokia signed a strategic agreement with HMD Global and FIH Mobile, where HMD would license the Nokia brand and Technology to design and develop future Nokia phones, while FIH Mobile will handle the process of R&D and manufacturing.
In Q3 2017, FIH Mobile announced via a profit morning that the company earned $3.6 billion in revenue. FIH Mobile compared that to $4.37 billion in net sales in the first and second quarter of 2017. I couldn’t find the information about FIH’s net sales in Q3 2016, but it’s recorded that FIH had $3.9 billion in net sales during the second half of 2016. We could assume that the growth of FIH’s net sales in Q3 and Q4 2017 could be about 100% or simply put – double.
In terms of profit, FIH is expecting a higher loss in the second half of 2017, compared to the First half of 2017 when the Company recorded about $200 million in loss.
It’s also good to know, that HMD isn’t the only client of FIH Mobile, but also 2 of top 5 Chinese smartphone manufacturers are partners of FIH Mobile, and the sales of Chinese vendors, as well as HMD’s sales, have been increasing over the last quarter(s).
Source: FIH Mobile