The latest round of funding valued the company at $1 billion

Finland’s HMD Global has raised $100m in funding as it attempts to reinvigorate Nokia’s smart phone offering. The latest round of funding valued the company at $1 billion.

HMD Global is the company responsible for Nokia’s handsets, and the new funding will inject some fresh impetus into the launch of Nokia’s new range of phones.  

"We are thrilled to have these investors join us in our journey to script the next chapter of Nokia phones. It is our ambition to deliver great smartphones that delight our fans while staying true to our Finnish roots and the hallmarks that the Nokia brand has always been known for. We aim to be among the top smartphone players globally and our success to date gives us the confidence to further continue on a growth path in 2018 and beyond," said Florian Seiche, CEO, HMD Global.

In a statement released to the press, HMD Global said that it had plans to "aggressively expand its portfolio of Nokia smartphones and [would] double down on expanding channel reach in strategic markets while continuing to deliver innovation where it matters most".

Last year, HMD Global shipped more than 70 million Nokia smartphones to 80 countries worldwide.