FIH Mobile, the manufacturing partner of the creator of Nokia phones HMD Global, published their financial report for the first half of 2019. The report shows the Chinese company improving their financial position, but also revealing some details about HMD Global.
From the start of 2019, HMD Global is working with multiple ODMs on manufacturing Nokia smartphones, while FIH remains the sole manufacturer of Nokia feature phones. The company is also working on its supply chain and hiring more people Finland, India and China.
According to FIH, HMD’s new business approach gave results in the first half of 2019, and HMD expects to ship more devices – feature phones and smartphones, in the second half of 2019.
FIH Mobile also revealed that HMD Global is in a series B financing round and that FIH is closely monitoring the process. As mobiili.fi explains, FIH made a statement about previously investing 64.5 million dollars in HMD, which represents 10.10% of total shares issued by HMD. The 62 million dollars investment for 6.2% of the share was made last year, while a 2.5 million dollars direct investment for 3.9% of the share was made before that, making the total of 64.5 million dollars and 10.10% of the share.
An article I previously wrote calculated the change of HMD’s value, but it was wrong so it was removed. We cannot calculate HMD’s value based on these numbers, but instead have to wait for the investment round to finish.