HMD Global (Nokia Mobiles) Global Vice President Ajey Mehta on Monday said he is moving out of the company to start his own internet of things (IoT) venture, ikiva, that will focus on the healthcare domain.
Mehta was also responsible for overseeing Nokia Mobiles' business in India.
"After 16 incredible years, I have decided to bid farewell to my favourite Nokia Brand and explore the exciting world of entrepreneurship. From Nokia to Microsoft to HMD, I have worked in multiple roles across the world alongside brilliant people," Mehta said in a social media post.
Once a dominant player in the Indian market, Nokia began to lose ground around 2012, hurt by its slow response to changing trends like dual SIM and touchscreen smartphones.
This was also the time when homegrown firms like Micromax and others like Samsung began to eat into Nokia's market share, leaving it with under 10 per cent share at the end of 2012.
Microsoft acquired the firm in April 2014 and in 2016 it gave the right to Finnish start-up HMD Global to sell Nokia-branded feature phones.
Mehta had been looking after the India market since the time HMD started operations in India. He spearheaded the launch of Nokia's Android smartphones and built HMD Global's business in India in his role as the country head for Nokia Mobiles between December 2016 to June 2019.
"I would like to take this opportunity to thank everyone who supported me in my journey with the Nokia brand. At HMD, somewhere between choosing the colour of carpets to recruiting the best team, I realized that my passion lies in entrepreneurship, which has been instrumental in my decision," Mehta said.
He further said in the current COVID times, access to quality healthcare has become crucial.
"This, coupled with strong connectivity through 5G, provides an opportunity to build innovative solutions in Healthcare services. My first venture as an entrepreneur will be in the Healthcare IoT space," Mehta said.