HMD Global, maker of Nokia phones says India is among its top 3 markets

HMD Global, which designs and sells Nokia brand of smartphones and feature phones, said India is among its top three global markets within 11 months of launch. The company is also pumping in significant investment into the Indian market as it looks to become one of the top players in the next 3-5 years. "We started our journey very short 11 months ago. We brought a fantastic line-up of 11 new Nokia phones, both feature and smartphones... India is already among our top 3 markets," HMD Global CEO Florian Seiche told reporters here.

The other two top markets are Russia and Indonesia. The company launched the Nokia 2 on 31 October, its most affordable smartphone that will be available from mid-November. While the exact price was not disclosed, Seiche said it is expected to retail at about 99 euros (nearly Rs 7,500). The handset features a 5-inch display and 4100 mAh battery that HMD claims will last for two days."USD 100-150 price point is one of the most popular segments and is 17 per cent of the global market volume. In India, this segment is even bigger at 30 per cent of the volume," he said. Talking about the Indian market, Seiche said the company will expand its retail reach to 1,00,000 stores by the end of this year. "India is a very important market for us...India has been the home of Nokia phones for so many years. We are making significant investment here," he said.