Nokia phone maker HMD to set up production in Europe

FILE PHOTO: A cyclist rides past a Nokia logo during the Mobile World Congress in Barcelona, Spain February 25, 2018. REUTERS/Yves Herman/File Photo

BARCELONA (Reuters) - HMD Global Oy, licensee of Nokia-brand smartphones, said on Saturday it is developing capabilities and processes this year to bring 5G device production to Europe.

Europe has no big smartphone manufacturing presence, as all the major companies, including Apple and Samsung, make their phones in Asia to cut costs.