<p>HMD Global, the maker of Nokia-branded smartphones, has secured $230 million of investment from partners including Google, Qualcomm and Nokia Technologies, to help accelerate its development of 5G devices.</p>.<p>Chief Executive Florian Seiche said the success of the funding round - the largest since the Finland-based company was founded in late-2016 - validated its strategy of working closely with partners in software and hardware.</p>.<p>"This significant investment with some of closest strategic partners really allows us to accelerate our journey going forward," he said in an interview.</p>.<p>He did not disclose the individual amounts, but said the investments from the three were "each very sizeable parts of the total".</p>.<p>HMD's smartphones run Google's Android One software, an unadulterated version of the operating system (OS) that promises three years of security updates and two years of OS updates.</p>.<p>"Google is delivering a similar experience on its own Pixel range, and we are a perfect complement to their own initiatives," Seiche said. "They're focused on fewer selected geographies and channels; we are much broader and also present in emerging markets."</p>.<p>HMD's first 5G device - the Nokia 8.3 5G - goes on sale next month, and Seiche said the investment would accelerate HMD's development of 5G handsets at lower prices.</p>.<p>"We believe the second half of this year will see a broader set of 5G phones in the market, and we believe the true mid-tier range will probably be in the first half of next year," he said.</p>.<p>HMD would also continue to invest in low-priced feature phones, he said, and deepen its relationships with carriers in markets in Africa, India and Brazil.</p>.<p>Seiche said Covid-19 had impacted sales, but demand had "come back quite strongly" in May and June, and the company had returned to profitability in June.</p>
<p>HMD Global, the maker of Nokia-branded smartphones, has secured $230 million of investment from partners including Google, Qualcomm and Nokia Technologies, to help accelerate its development of 5G devices.</p>.<p>Chief Executive Florian Seiche said the success of the funding round - the largest since the Finland-based company was founded in late-2016 - validated its strategy of working closely with partners in software and hardware.</p>.<p>"This significant investment with some of closest strategic partners really allows us to accelerate our journey going forward," he said in an interview.</p>.<p>He did not disclose the individual amounts, but said the investments from the three were "each very sizeable parts of the total".</p>.<p>HMD's smartphones run Google's Android One software, an unadulterated version of the operating system (OS) that promises three years of security updates and two years of OS updates.</p>.<p>"Google is delivering a similar experience on its own Pixel range, and we are a perfect complement to their own initiatives," Seiche said. "They're focused on fewer selected geographies and channels; we are much broader and also present in emerging markets."</p>.<p>HMD's first 5G device - the Nokia 8.3 5G - goes on sale next month, and Seiche said the investment would accelerate HMD's development of 5G handsets at lower prices.</p>.<p>"We believe the second half of this year will see a broader set of 5G phones in the market, and we believe the true mid-tier range will probably be in the first half of next year," he said.</p>.<p>HMD would also continue to invest in low-priced feature phones, he said, and deepen its relationships with carriers in markets in Africa, India and Brazil.</p>.<p>Seiche said Covid-19 had impacted sales, but demand had "come back quite strongly" in May and June, and the company had returned to profitability in June.</p>