Nokia is planning to re-enter the smartphone business in 2017, a slide from Nokia's Capital Markets Day 2016 has revealed.
At the event held on November 15 for investors, the company stated that 2017 will represent "Nokia brand's return to smartphones," Phone Arena reported on Friday.
Since it does not have the required manufacturing facilities, Nokia will rope in Finnish company HMD Global, and Taiwanese giant Foxconn to manufacture the smartphones.
Led by former Nokia execs, HDM will "develop, market and sell Nokia-branded phones and accessories", while Foxconn is dealing with R&D and manufacturing, the report added.
The first smartphone of Nokia after its comeback is rumoured to be the D1C that runs on Android 7 Nougat with a Snapdragon 430 processor, and offers a 1080p display and 3 GB of RAM.
The leak renders that the D1C will come in gold, white and black colour options. The back shows the image sensor and LED flash, with the Nokia logo etched right at the centre.
The handset had recently appeared on Geekbench, giving a sneak peek into some of its features.