HMD Global looking to explore the Indian market for exports

HMD Global who owns and sells the phones under the Nokia brand in the Indian market is looking to explore more options so that the Indian market can be leveraged for exports. The company has recently launched the Nokia 2.4 handset in the market and is working with various ODM (original design manufacturer) and  EMS (electronic manufacturing solution) partners to meet the domestic demand for feature phones and smartphones. 

As per the official statement from HMD Global Vice president Sanmeet Singh Kochhar, “We have different ODM and EMS partners who we work with within India. All of our devices as of now we are selling are 100 percent manufactured in India. While they are designed in Finland, all the smartphones and feature phones for India are manufactured in India.“” Ever since the pandemic, many smartphone companies have been facing issues with supplies of components and parts for the phone. Therefore, the company has been exploring more options and markets where the requirement of their supplies can be fulfilled. 

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The company is currently evaluating the Indian market to make it the heart and center of their sourcing and looking to cater to the domestic and export needs of the company. If this happens, HMD Global can also get the advantage of the PLI scheme by the government that will extend an incentive of 4 to 6 percent on incremental sales of goods under target segments that are manufactured in India to eligible companies for a period of five years. It would be interesting to see how HMD Global thinks about expanding their market in India.

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