Earlier today Microsoft announced it was selling off its remaining assets in the feature phone business, in a deal with Foxconn valued at $350 million.
HMD will pump $500 million in global marketing over the next three years to revitalize the Nokia name, which has been cooling off after years of relative inactivity.
Nokia has made a decision to lease some of that intellectual property to HMD Global to make Android-based Nokia-branded mobile phones and tablets, the Finnish company also announced on Wednesday.
"Branding has become a critical differentiator in mobile phones, which is why our business model is centered on the unique asset of the Nokia brand and our extensive experience in sales and marketing", Nummella said.
A new company has been established to revive the Nokia handset and tablet brand. Sure enough, Nokia Technologies revealed on its blog this morning that we'll be seeing new Nokia-branded mobile devices, including feature phones, smartphones and tablets, when its exclusivity deal with Microsoft ends in late 2016. The decade long deal covers exclusive branding rights and intellectual property licensing, and in return HMD will make royalty payments to Nokia for sales of all Nokia branded mobile products, all of which will run Android.
There are still a lot of details up in the air about these upcoming Nokia-branded Android phones and tablets, including what they'll look like and what features they'll have.
As far as the Lumia lineup is concerned, Microsoft stated that it wants to "continue to develop Windows 10 Mobile and support Lumia phones".