As per recent reports, HMD Global, the company assigned with the task of designing and selling of Nokia brand of smartphones and feature phones, has declared India to become one of its top three global markets within 11 months of launch. With this, HMD Global is also boosting significant investments into the Indian market as it is speculated that it would become one of the leading players in the country within the next 3-5 years.

In the words of HMD Global CEO Florian Seiche, “We started our journey very short 11 months ago… India is already among our top 3 markets… There is a potential in India to become our biggest country…because of the country size and also combination of our position as Nokia in the past”.

He further added that the company has introduced a line-up of 11 devices, enlisting both feature and smartphones, across a wide range of price points to cater to various consumer segments in the country.

Russia and Indonesia have been listed as the other two for HMD, along with India.

Recently HMD launched Nokia 2, the most affordable smartphone that will be made available from mid-November. Even if the exact price is not yet disclosed, Seiche speculated it the price to be something around 99 Euros, i.e. around ₹7,500 INR. With this, the company also promises a battery life extending up to 4100 mAh battery.

To this, the newly appointed CEO of HMD Global said added that “Our ambition is to become one of the leading players in the next 3-5 years. Therefore we pick the segment where we see great opportunity. We believe that in this price band with Nokia 2, we gain traction very quickly”.

He also further pointed out that the price range of $100-150 is one of the most popular segments. Globally, the segment contributes 17% of the market volume, in India it is higher at about 30%.

Throwing light on the investments the company is making in India, Seiche regarded that they are not holding back and while comparing with the investments in other markets, he added that, “is not the same size. India is one of the largest”.

In terms of the company investing in the expanding retail outlets in the country, he concluded by saying that, “We are already today at 80,000 retail stores for products and plan to reach to 1,00,000 by the end of this year”.