Nokia sets sights on middle-range market

A new Nokia-branded smartphone has been unveiled in China as part of the broader push to revive the brand name under the wing of HMD Global and vie for an increased presence in the nation's highly competitive middle-range segment.

Priced from 1,699 yuan ($246), the Nokia X7 is designed to inject new vitality to the brand, which was once regarded as the premier one for feature phones. After taking the Nokia phone brand from Microsoft Corp almost two years ago, Finland-headquartered HMD aims to make it a hub for younger consumers.

Li Baoyuan, senior market manager at HMD's China region, said around 70 million consumers are using Nokia feature phones and smartphones. "In China, 70 percent of our users are young people aged between 20 and 29, and 85 percent of them are male."