
HMD is ‘scaling back' in the US, killing Nokia all over again
The withdrawal was confirmed in a statement shared by Wired's Julian Chokkattu on Threads, and acknowledges 'a challenging geopolitical and economic environment,' which sounds like it might be a polite way of saying 'tariffs.'
While HMD's statement doesn't confirm a complete departure from the US market, its website tells a different story. HMD's webstore is no longer online, and product pages either give no buying information, or have a 'Where to buy' button that isn't functional, despite the fact that some handsets are still available to buy from Amazon and other retailers.
HMD told Chokkattu that it will continue to honor 'warranty coverage and service for existing products,' which will be handled by the company's global support teams. As for US employees, the company has not confirmed details of any job losses, but says it is 'committed to supporting [US staff] during this transition.' We've reached out to HMD for comment.
Based in Finland, HMD was formed in 2016 in order to purchase the Nokia feature phone business from Microsoft, which had in turn bought the ailing brand in 2014. It also secured a license to use the Nokia name on smartphones and tablets, with a focus on affordable and midrange hardware.
In 2023 HMD announced plans to launch products under its own brand, including the repairable Skyline (which, oddly, remains the only Android phone with Qi2 support), along with brand partnerships like the Barbie flip phone and the Heineken Boring Phone. Ever since, Nokia has been relegated to feature phones. Only four HMD-branded smartphones ever launched in the US, and none since the modular HMD Fusion came out in September 2024, though several other HMD phones have launched internationally in that time.
Here's HMD Global's statement in full:
'Like many global businesses, HMD is navigating a challenging geopolitical and economic environment. After careful consideration, we have made the decision to scale back our US operations.
Our priority is ensuring a seamless transition for our customers and partners. We will continue to honour all obligations, including warranty coverage and service for existing products, and provide full support through our global teams.
We deeply value the contributions of our US colleagues impacted by this change and are committed to supporting them during this transition.
HMD remains focused on long-term growth, with strong momentum across our mainstream business and key segments such as Family, Secure, and Microfinancing.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
What To Expect in Markets This Week: Earnings From Palantir, AMD, McDonald's and More
Key Takeaways Several key companies are slated to report earnings this week, including Palantir, AMD, McDonald's, Pfizer, Disney, and Uber. Investors will be watching for economic data releases on the U.S. trade deficit, productivity, consumer credit, and services-sector sentiment. San Francisco Federal Reserve President Mary Daly and St. Louis Fed President Alberto Musalem are among the Fed officials scheduled to deliver remarks this week brought a string of blockbuster corporate reports. Those will continue in the days ahead, with big tech companies and well-known consumer names set to publish their quarterly financial updates. AI data analyst firm Palantir, chipmaker Advanced Micro Devices, and ride-hailing app Uber Technologies lead the tech names set to report. McDonald's and Walt Disney are among the leading consumer companies on the calendar. Several noteworthy drugmakers are also scheduled to post earnings, including Novo Nordisk, Amgen, Pfizer, and Eli Lilly. Updated data on the U.S. trade deficit comes as tariffs are remaking the landscape of international trade, while factory orders could help show whether tariffs are helping spur a rise in domestic manufacturing so far. Trade weighed heavily on stocks to close out last week, with concerns about tariffs and the health of the job market pulling all three major indexes into the red after a generally strong July. Consumer credit data later in the week will provide insight into how much Americans are spending. Market watchers will also be following comments from Federal Reserve officials after last week's decision to keep interest rates unchanged. Read to the bottom for our calendar of key events—and one more thing. Earnings from Palantir, AMD, McDonald's, Pharma in the Spotlight Palantir Technologies' (PLTR) scheduled earnings report on Monday kicks off the week for investors as the firm continues to trade near record highs, lifted by optimism about AI spending trends. Advanced Micro Devices (AMD) is to report the following day, with analysts saying the chipmaker's MI350 series chips could be competitive with Nvidia products. Analysts are also high on Uber Technologies (UBER) ahead of its scheduled report on Wednesday. McDonald's (MCD) reportm on tap for Wednesday, is due as the burger chain has reported that traffic from middle-income households was down amid lagging consumer confidence. Disney's (DIS) scheduled report on the same day follows the entertainment giant lifting its full-year profit outlook in the prior quarter amid subscriber growth in its streaming services. Novo Nordisk's (NVO) expected Wednesday report comes after the Danish drugmaker lowered its full-year outlook amid declining sales of its weight-loss drugs Ozempic and Wegovy. Eli Lilly's (LLY) report set for Thursday follows cuts to its profit outlook in May against the backdrop of high research and development costs. Trade Data, Fed Speakers Highlight Economic Calendar U.S. trade deficit data, due Tuesday, will provide market watchers with more insight into how President Donald Trump's tariff policies are affecting international trade. The data comes as the gap between imports and exports is narrowing as the tariffs take hold. Areport on second-quarter productivity comes as market watchers look for the impact of AI on the workforce. Updated consumer credit data will be released as economists closely watch the health of the U.S. consumer. Meanwhile, investors will also be alert to weekly jobless claims on Thursday following last week's employment report. After two members of the Federal Open Market Committee (FOMC) voted last week to cut interest rates, investors will be tracking public comments from San Francisco Fed President Mary Daly, Atlanta Fed President Raphael Bostic, and St. Louis Fed President Alberto Musalem for more insight into what's next for the central bank. Quick Links: Recap Last Week's Trading | Read Investopedia's Latest News This Week's Calendar Monday, Aug. 4 Data to Watch: Factory orders (June) Key Earnings: Palantir, Vertex Pharmaceuticals (VRTX), Williams Cos. (WMB), Axon Enterprise (AXON) Tuesday, Aug. 5 U.S. trade deficit (June) Key Earnings: Advanced Micro Devices, Caterpillar (CAT), Amgen, Eaton Corp. (ETN), Arista Networks (ANET), Pfizer, BP (BP) More Data to Watch: S&P final U.S. services PMI (July), ISM services PMI (July) Wednesday, Aug. 6 Fed Representative Speaking: San Francisco Fed President Daly Key Earnings: Novo Nordisk, McDonald's, Walt Disney, Uber Technologies, Shopify (SHOP), Sony Group (SONY), Applovin (APP), DoorDash, Airbnb Thursday, Aug. 7 Initial jobless claims (Week ending Aug. 2) Fed Representative Speaking: Atlanta Fed President Bostic Key Earnings: Eli Lilly, Gilead Sciences (GILD), ConocoPhillips (COP), Constellation Energy (CEG), Motorola Solutions (MSI), Monster Beverage (MNST) More Data to Watch: U.S productivity (Q2), Wholesale inventories (June), Consumer credit (June) Friday, Aug. 8 Fed Representative Speaking: St. Louis Fed President Musalem One More Thing The cost of health care for retirees keeps climbing, but many people aren't planning accordingly or using resources available to cut these expenses. Investopedia's Elizabeth Guevara has more on that story here. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
Senator Jason Esteves wants to be the next Democratic governor, and win Savannah's vote
Georgia Democratic Gubernatorial Candidate and Senator Jason Esteves arrived at Hotel Indigo at 3:30 p.m. on Saturday, Aug. 2 for an open meet-and-greet with a modest crowd of about 30 people. 'Democrats can win in Georgia,' said a lively Esteves to the room, which reciprocated with murmurs of approval. 'Democrats will win in Georgia.' In a state led by sitting Republican Governor Brian Kemp that swung back to red in the 2024 presidential election, in a country with a Republican-majority House and Senate, it's an optimistic battle cry on behalf of the Democratic Party. And 41-year-old Esteves himself is a relatively fresh face among two potential other Democratic candidates, including two-time state Representative Derrick Jackson and former Atlanta Mayor Keisha Lance Bottoms. But his strategy seems to be keeping his messaging simple, in a universal promise that may appeal to both sides of the aisle. 'We win by going across this state, not just in blue cities and blue counties, but red towns and red counties too,' he said. 'By talking to people about how we are going to keep and grow the money in their pocket.' Big promises for small businesses Esteves wears hats that may position him well to a variety of voters. He is a lawyer, business owner of an urgent care and two breakfast restaurants and a former middle school social science public school teacher. Still, his political stint has been a relatively recent endeavor as the state Democratic Party treasurer since 2019, and the District 35 Senator since 2023, representing Douglas and parts of Fulton County. Still, Esteves was confident enough to throw in the first Democratic chip for governor in April. And it appears that the new kid can also throw some punches. 'We deserve to have a governor that is going to invest as much in our small businesses as our governor today invests in a company like Hyundai,' said Esteves. Earlier in the day, Esteves spoke at a Black Business Expo panel in downtown Savannah. Whether the subject remained fresh on his mind, or he did intend to focus on it, small businesses owners were a cornerstone of his informal talk. 'He speaks the language,' said Brandon Campbell owner of B. Campbell, a custom suit company in Savannah since 2023. 'He doesn't just support mine, but any small business.' 'We don't get the back-end help or push the major companies get,' said Tajuan Brantley, owner of TB Fitness in Savannah for the past eight years. But listening to Esteves convinces Brantley that help will come. All paths lead to a fight in Washington Still, it's not just small business owners that Esteves hopes to win over. In response to a question about how to appeal to red counties, he boiled it down to three fairly lofty goals. 'When they meet me, and they see that I'm laser-focused on economic issues, laser focused on building a world-class healthcare system, a world-class education system, a lot of these folks have issues with that too,' he responded. 'We need a governor that's going to address the issues that have been plaguing Georgia for decades, long before Donald Trump was our president." Still, this doesn't mean he doesn't have a bone to pick with the current administration, and one of those bones is worth $119 million. Included in his promise to grow Georgians' pockets is seeing through the millions of dollars in federal aid for afflicted residents after Hurricane Helene that have still not been distributed nearly a year later—a frustration he expressed in an interview with Atlanta Journal Constitution podcast "Politically Georgia" in May. When asked how he might get back some of that federal money, 'we have to not be afraid to call out Washington, D.C. for what they're doing in Georgia,' Esteves said. The current "Republican governor is not saying a thing... I'm going to make sure that we have a governor that's going to fight the administration.' What Esteves wants for Savannah On Sunday, Aug. 3, Esteves will visit two local Savannah churches and attend another meet-and-greet at 4 p.m. at the The 5 Spot Sandfly at 7360 Skidaway Rd. If elected governor, Esteves' plans to ensure Savannah's residents can continue to live where they work. 'The coast has experienced significant growth, and it has beared the burden of keeping up with that growth,' said Esteves. Alleviating that burden means providing enough jobs that keep kids out of trouble, building infrastructure that can withstand flooding and climate change impacts, and providing affordable housing amid rapid development, he added. As for a nearby major developer's parking lot, he said he detests seeing license plates belonging nearly every other state but Georgia. 'We need a governor that's going to enforce the agreements that we have with Hyundai,' said Esteves, including those that promised hiring local contractors. 'Right now we have a governor that's putting business first instead of the people of the state.' The Georgia gubernatorial race will take place Nov. 3, 2026. The primary election for Governor of Georgia will take place on May 19, 2026. Jillian Magtoto covers climate change and the environment in coastal Georgia. You can reach her at jmagtoto@ This article originally appeared on Savannah Morning News: Democratic gubernatorial vandidate Senator Jason Esteves visits Savannah Solve the daily Crossword
Yahoo
26 minutes ago
- Yahoo
Walker Crips Group Full Year 2025 Earnings: UK£0.059 loss per share (vs UK£0.009 profit in FY 2024)
Walker Crips Group (LON:WCW) Full Year 2025 Results Key Financial Results Revenue: UK£31.2m (flat on FY 2024). Net loss: UK£2.53m (down from UK£368.0k profit in FY 2024). UK£0.059 loss per share (down from UK£0.009 profit in FY 2024). We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Walker Crips Group shares are up 7.1% from a week ago. Risk Analysis You should always think about risks. Case in point, we've spotted 3 warning signs for Walker Crips Group you should be aware of, and 2 of them don't sit too well with us. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio