HMD Global Oy
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HMD Global Oy - overview
Established
2016
Location
Espoo, -, Finland
Primary Industry
Telecoms
About
HMD Global Oy is a Finnish company that designs and manufactures smartphones and feature phones, focusing on delivering reliable mobile experiences with a blend of modern technology and classic designs. HMD Global Oy, founded in 2016 and headquartered in Espoo, Finland, specializes in mobile devices, including Android™ smartphones and classic Nokia feature phones. The firm was established by Jean-Francois Baril and has raised USD 230. 00 mn in Series A funding on August 11, 2020, from investors including GV, Nokia, and Qualcomm Ventures.
The total amount raised by the company stands at USD 230. 00 mn. HMD Global specializes in the design and manufacturing of a diverse range of smartphones and feature phones, including the Android™ smartphone lineup and classic Nokia feature phones. The company's products are engineered to deliver performance, reliability, and user-friendly experiences, targeting consumer needs in communication and entertainment.
Notable product lines include the HMD Skyline smartphone and the Barbie flip phone, marketed primarily in Europe, North America, and select regions in Asia and Africa. For the year 2023, HMD Global reported a revenue of USD 913. 17 mn and an EBITDA of USD 38. 44 mn.
The revenue is generated through a combination of direct-to-consumer sales and partnerships with retailers, including flagship offerings like the HMD Skyline smartphone and newer collaborations such as the Barbie flip phone. Following the Series A funding round in August 2020, HMD Global aims to accelerate its mission to make 5G smartphones widely accessible, with a focus on partnerships with US carriers. The company also plans to transition to digital-first offerings, expand its presence in key growth markets such as Brazil, Africa, and India, and strengthen its position beyond hardware into holistic mobile services.
Current Investors
Foxconn Technology Group, Ginko Ventures, DMJ Asia Investment Opportunity
Primary Industry
Telecoms
Sub Industries
Electronic Components, Telecoms Equipment
Website
www.hmdglobal.com
Verticals
Manufacturing
Company Stage
Series A
Total Amount Raised
Subscriber access only
HMD Global Oy - timeline of key events
HMD Global Oy - financials
| Fiscal Year Ended | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 14,848,644.2 | 1,858,552,112.2 | 2,370,742,776.4 | 1,692,742,538.9 | 1,221,605,115.5 | 1,433,497,000 | - | - | - |
| % Revenue Growth (YoY) | - | 12416.6% | 27.6% | (28.6%) | (27.8%) | 17.3% | - | - | - |
| EBITDA (USD) | (9,511,663.4) | (56,983,697.5) | (166,502,243) | (251,961,910.7) | 2,279,245.3 | 35,396,000 | - | - | - |
| Operating Income (USD) | (10,525,116.8) | (64,601,535.2) | (185,253,079.6) | (289,905,999) | (32,019,382.8) | 12,889,000 | - | - | - |
| Operating Margin | (70.9%) | (3.5%) | (7.8%) | (17.1%) | (2.6%) | 0.9% | - | - | - |
| % EBITDA Margin | (64.1%) | (3.1%) | (7.0%) | (14.9%) | 0.2% | 2.5% | - | - | - |
| NET Income (USD) | (9,808,416.1) | (65,297,188.3) | (188,475,192.2) | (295,386,096.7) | (46,541,772.9) | (70,087,000) | - | - | - |
| % Net Margin | (66.1%) | (3.5%) | (8.0%) | (17.5%) | (3.8%) | (4.9%) | - | - | - |
HMD Global Oy - employee data
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