Nokia reportedly planning to return to mobile phone market in 2016

According to a report by re/code, Finnish company, Nokia is planning to re-enter the smartphone market in 2016 and is also working on a number of technological products like virtual reality.

Nokia stopped manufacturing smartphone when it sold its mobile division and Lumia Phone brand to Microsoft. Under the sale agreement, Nokia cannot release any new mobile phone until Q4, 2016.

Nokia technologies, which remained with Nokia after the acquisition is said to be in development to launch mobiles next year. The number of phones that the company will launch is not detailed but Nokia technologies may use some of the patents to work on the new mobile phones.

Nokia will come back to the smartphone market with a business model similar to what it used for the launch of Nokia N1 tablet. The tablet was launched last year with a brand-licensing agreement with Foxconn. Re/code reports Nokia will continue selling its brand and designs for other companies to build and distribute their products.

So far Nokia has developed two products, Z launcher and Android N1 tablet that is being sold under the Nokia brand in China.

There are not too many details about what Nokia will launch when it enters into the smartphone market next year.

Source : Re/Code