HMD is reportedly planning to withdraw from certain markets and reduce production across its global device portfolio, according to a new rumour from a usually reliable source familiar with the company.

The report claims HMD intends to shift its core focus towards regional markets and the enterprise and industrial sectors. It also suggests the company may not launch any more products globally this year, potentially moving to market specific releases over the coming months.

However, the claims remain unconfirmed, and HMD has not officially announced any changes to its global strategy.

The company has faced challenges in smartphone sales, while the long term outlook for its feature phone business remains uncertain as demand for traditional phones gradually declines. It remains to be seen whether HMD will respond to the report or provide further details about its plans.