After the surprise success of its re-born Nokia phones, HMD Global has secured a $1bn (£750m) valuation following a year of sales capitalising on consumer nostalgia for the Nokia brand and its iconic phones of the early 2000s.
Finland-based HMD secured $100m in new funding, giving the two-year-old start-up a much sought-after "unicorn" valuation, where a company is worth more than $1bn, following its revival of Nokia-branded phones.
HMD was founded in December 2016 by former Nokia and Microsoft executives, producing Nokia smartphones under licence from the Finish telecoms company.
The start-up said it sold 70 million Nokia phones in its first full year, such as its budget re-launch of the Nokia...