Nokia Mobile aka HMD Mobile, the home of Nokia Phones has registered some impressive boost in its Financials, claims a report. Thanks to the increased demand for 4G Nokia feature phones, the firm saw its revenue and ASP (Average selling price) growing by a double-digit rate on a Y-O-Y basis in Q1 2021.
The report from analyst firm Strategy Analytics also claims that the operating margin hit its highest point ever for the company.
HMD (Nokia) financial metrics shot up in Q1 2021, boosted by increased demand for 4G-enabled feature phones. Global handset wholesale revenue and ASP were both up with double-digit rate YoY, while operating margin hit its highest point ever for the company.
HMD Global has become the largest 4G feature phone vendor globally. It also is the second largest KaiOS vendor globally.
HMD (Nokia) is now the largest 4G feature phone vendor globally, and also the second largest KaiOS vendor, just behind TCL-Alcatel.
While feature phones still play an important part of HMD’s business, the company increasingly looks to grow its smartphone presence, pressured by the aggressive expansion from the likes of Xiaomi, OPPO and vivo.
HMD Global recently launched many 4G feature phones like Nokia 215 4G, Nokia 225 4G in markets like India touching new price points. Nokia feature phones still enjoy a great brand-recall in India and other markets resulting in a strong traction for these new 4G feature phones.