HMD Global, the company responsible for producing Nokia phones, declared its dominance in the feature phone market for Q3 2023, as per the latest IDC analysis.
While specific details were not disclosed by either the manufacturer or the analyst firm, HMD has achieved a significant market share of 30.7% by value and 22.4% by volume. This reflects a notable increase compared to the preceding three-month period.
HMD highlighted four pivotal factors that fueled Nokia’s success. Firstly, the integration of the Unified Payments Interface (UPI) into feature phones played a crucial role, in enhancing functionality and facilitating secure digital transactions.
In addition, the company pursued a revitalization of its flagship models by introducing new designs and vibrant colors. Notable models in this lineup include the Nokia 105 2022, Nokia 110, Nokia 110 4G, Nokia XpressAudio, and Nokia 2660 Flip.
A representative from HMD Global conveyed the company’s intention to build on these accomplishments and maintain its prominent position in the feature phone market.
New HMD Brand
The company is mostly known for its Nokia phones, but the Finnish phone maker announced in September this year that it plans to introduce phones under its own HMD brand too. The announcement came from Jean-Francois Baril, Co-founder, Chairman, and CEO of HMD Global who said that the HMD and Nokia brands will co-exist and users can expect collaboration “with exciting new partners”.
The company has confirmed that the HMD brand will also focus on “high-quality, affordable mobile devices”, meaning we can expect the same formula as Nokia phones including affordable smartphones and modern feature phones.
There has been no news of these HMD phones since and there were no timeline details in the announcement either.