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HMD is ‘scaling back’ in the US, killing Nokia all over again
Even Barbie couldn’t save it.
HMD confirmed the withdrawal in a statement shared with The Verge, and acknowledges “a challenging geopolitical and economic environment,” which sounds like it might be a polite way of saying “tariffs.” Based in Finland, HMD was formed in 2016 in order to purchase the Nokia feature phone business from Microsoft, which had in turn bought the ailing brand in 2014. HMD remains focused on long-term growth, with strong momentum across our mainstream business and key segments such as Family, Secure, and Microfinancing.”
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