I wish them all the best but I can't see anything big coming from this.
Pretty much, and it tells that this company is headquartered in Singapore too.
I expect the company's phones to be relegated to Asia only, where most countries there don't care about infringement.
If they come to US or Europe, they will die with a two pronged patent infringement attack from both Microsoft and Nokia(remember Nokia earlier had started transferring it's patents to patent troll companies and in the Ballmer/Elop deal, Nokia is keeping ownership of it's patents meaning it no longer needs do so and it now itself is a patent troll since it won't be making any consumer devices that uses it's patents.)
Not to mention the fact that this new company will have to license Samsung, Motorola, LG and Sony's patents as well.
This Newkia company doesn't have any patents and unless it remains in China, India, and a few select Asian and African countries where they either don't care about the patent system or have a patent system in the first place, this Newkia company will die a horrible death or get acquired for pennies on the dollar by a company like Samsung which might be interested in design for their Galaxy phones.