HMD Global, the maker of Nokia-branded phones, launched several new products on Monday, including a “life-proof military-grade” 5G smartphone designed to withstand harsh environmental conditions.
What Happened: Finland-based HMD Global holds the license for the Nokia brand of phones and tablets, which is a registered trademark of the Nokia Corp. NOK.
The company unveiled its first rugged phone called the Nokia XR20, which can withstand extreme temperatures and remain submerged in water for up to an hour.
The device sports a 6.67-inch Corning Gorilla Glass Victus display and can resist damages from scratches and drops from a height of 1.8 meters. The smartphone features a 48-megapixel primary camera as well as a 13-megapixel ultrawide camera and supports 5G Internet.
See also: How to Buy Nokia (NOK) Stock
The phone will be available in select markets globally from July 27. It starts at a price of $549.99 in the U.S.
In addition, HMD Global unveiled two other phones – the Nokia 6310 and the Nokia C30. The former is a revamped version of the original Nokia 6310 phone but has a larger screener and bigger buttons.
The Nokia C30 is the newest member of the C-series, HMD’s new entry-level family of devices.
HMD Global also launched four distinct lines of Nokia-branded earphones.
See Also: Apple's 5G Smartphone Market Share Falls After Initial Boom As Samsung, Vivo Register High Growth
Why It Matters: The launch of the Nokia XR20 is part of efforts by HMD Global to tap the rugged phone market, which was valued at $2.43 billion in 2019 and is projected to reach $3.96 billion by 2027, according to a report by ResearchAndMarkets.com. There is an increase in requirements among consumers for sturdy and durable mobile devices.
HMD Global continues to struggle to gain market share in the smartphone segment, while it is a major player in the feature phone market.
Photo: Courtesy of HMD Global
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
