HMD Global, the company behind the Nokia brand of devices, has announced its plan to introduce a new smartphone brand in the first half of 2024, with India slated to be a key market. The announcement came from its Vice President of India and APAC, Ravi Kunwar, during a recent interview with Economic Times.

During the discussion, Kunwar explained that HMD Global's CEO and Chairman have recently mentioned their intention to expand their product line, which includes branded devices such as smartphones and tablets, as well as feature phones and ecosystem devices. He reinforced that the Indian market was critical to their vision and business performance, categorizing it as a top priority for devices under the HMD brand.

Expressing the importance of India for their strategy, Kunwar hinted that HMD Global could pursue an India-first approach when launching their new branded devices, including smartphones. He further indicated that all devices under the new brand are set to be manufactured in India, with a view to potentially expand to other markets through exports.

He recognized the current efforts by the Indian government to encourage and push domestic and associated entities to advance their manufacturing networks, stating this as a key factor for considering the Indian opportunity.

He revealed that their plan is much more comprehensive, with the prospect of major supply chain and product design projects also emerging from India. He even mentioned past successful projects of designing India-specific 5G handsets and reiterated the importance of India assuming a leading role in their strategy.

The forthcoming range of HMD-branded smartphones are planned to cater to various price segments, but will be distinct from the Nokia branded portfolio. At present, HMD is collaborating with various partners to manufacture feature phones and smartphones within India. They have also initiated exporting their feature phones to the African markets.

Reflecting on the potential of the Indian market, Kunwar expressed optimism towards predicting growth in domestic consumption, which should also position India as an export hub for external markets. He emphasized that the existing supply chain is under review, with plans to expand the capacity of existing partners or enlist new partners depending on future needs, to effectively serve local and export needs.