Nokia HMD to set up production in Europe

HMD Global, inheritor of the Nokia mobile phone has announced on Saturday its plans to develop capabilities in order to bring the production of 5G device to Europe.

The company added that is currently working on software modifications and testing, as it is cooperating with a number of IT security partners on the matter, according to Reuters.

Lars Silberbauer, HMD chief marketing officer stated that the cooperation included both private and public sectors to advocate for European manufacturing and R&D.

All major smartphone manufacturing companies are locating their businesses in Asia to cut costs; making HMD the first in its initiative.

In 2016, HMD signed an exclusive 10-year licensing agreement with Nokia Oyj to make smartphones and tablets.

Nokia’s current focus is on producing telecoms network equipment, while also setting a new smartphone line to compete in the market of budget Android phones.