FIH Mobile reveals declining revenue in 2020 and 14.38% ownership of HMD Global, the maker of Nokia phones
In their Annual 2020 report, Nokia revealed how much the company is involved in the ownership structure of HMD Global, the exclusive brand licensee for Nokia smartphones, feature phones and tablets. When the return of Nokia brand started back in 2016, besides HMD and Finnish Nokia, a major role was played by FIH Mobile, a subsidiary of Foxconn, that also owns a certain percentage of HMD Global.
FIH Mobile posted on their investor relations website their financial statement for the year 2020. Considering the smartphone market saw a decline last year, mainly thanks to a pandemic resulting in lockdowns and economic crises, it is not surprising that the manufacturer posted a revenue decline and bigger loss compared to 2019. In 2020, FIH had 8.9 billion dollars in revenue (compared to 14.1 billion USD in 2019) and a loss of 173 million US dollars (compared to a loss of 12 million USD in 2019).
We also know that FIH Mobile is one of the first investors of HMD Global and was far a few years the only ODM – manufacturing all Nokia smartphones and featurephones, until HMD and FIH decided a multi-ODM approach is more suitable for the Nokia phones business. In the 2020 financial report, FIH Mobile disclosed they have an 14.38% ownership in HMD Global. Finnish Nokia owns 10.10% of HMD Global, while other investors include Google, Qualcomm, and others with an undisclosed share in HMD.