HMD Global plans to double revenue, to increase production capacity

HMD Global has said that it plans to increase manufacturing capacity and hopes to double revenue from the Indian market.

The company, which designs and sells phones under the Nokia brand, has a partnership with Foxconn to manufacture its devices in Chennai.

HMD Global CEO Florian Seiche was quoted as saying by PTI that India is among its top regions and probably the single largest market for the company.

He said further: “India is a cornerstone for our future growth. We are investing significantly in manufacturing, expanding our retail presence… We expect to double our revenue and manufacturing capacity this year. It (India) is a key market for both feature and smartphones.”

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