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Finland-based HMD Global, known for manufacturing Nokia-branded mobile phones, is reportedly planning to scale back its global device production and gradually exit some international markets as it revises its long-term business strategy.
The move comes amid growing competition in the global smartphone market and difficulties in meeting sales targets, according to reports citing industry sources.
HMD is expected to shift its focus from large-scale international operations to selected regional markets and corporate and industrial customers.
The company is unlikely to launch new globally targeted products or flagship devices in the remaining months of this year, the reports suggest. Instead, it may introduce a limited number of devices on an experimental basis, catering to specific markets and consumer needs.
HMD’s feature phone business is also facing challenges as demand for basic handsets declines in many markets, raising questions about the segment’s long-term growth prospects.
The company has yet to issue an official statement on the reported changes.
Industry analysts suggest that a strategic overhaul could help HMD adapt to intensifying competition and maintain its position in the mobile phone market. However, the extent of the planned cuts and the markets that could be affected remain unclear.