• A logo sits illuminated outside the Nokia pavilion during the second day of the Mobile World Congress 2015 at the Fira Gran Via complex on March 3, 2015 in Barcelona, Spain.

A logo sits illuminated outside the Nokia pavilion during the second day of the Mobile World Congress 2015 at the Fira Gran Via complex on March 3, 2015 in Barcelona, Spain. (Photo : Getty Images/ David Ramos)

Ending all speculations, Nokia has announced that it is gearing up to return to smartphone business in early 2017. This time the multinational Finnish tech firm will launch a range of Android-powered phones and tablets.

A few years back, Nokia handsets were virtually omnipresent and now the company desires to regain its position as a market leader in smartphones and tablets alongside other tech giants like Apple, Google, Samsung and HTC. However, the company does not have any plans to manufacture the devices, as it has entered into a 10-year licensing agreement with a Finnish startup named HMD, The Verge reported.

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On Dec. 1, Thursday, Nokia officially passed on the license of its brand to HMD many of whose leaders earlier worked for the Finnish telecom giant. Hopes regarding the success of new Nokia phones have increased following the success of Google's Pixel and Pixel XL.

Securing a place in the highly competitive smartphone market is a pretty difficult task. Already existing leaders like Apple and Samsung are witnessing a decline in their revenues from their flagship sales. Nevertheless, HMD, which will make and market new devices under the Nokia branding, is confident that customers would like to purchase Nokia devices again.

For years, Nokia has been among the most iconic and familiar phone brands throughout the world. Relaunching this much-loved, renowned and trusted brand to consumers is not only a responsibility, but also an ambition that is shared by everyone at HMDGSM Arena quoted HMD chief executive Arto Nummela as saying.

Nummela claimed that they would be very true to the Nokia brand, which is recognized for simplicity, ease of use, dependability as well as quality. Everyone at HMD will work together to deliver these elements with incredible industrial design.

While both Nokia and HMD are holding the details regarding the new devices close to their chest, it is no secret that the ambitions of HMD span the entire globe. According to the tech startup President, Folrian Seiche, in the long term, the company plans to have its presence felt in all the markets worldwide.

It is worth mentioning here that prior to its acquisition by Microsoft, Nokia had experimented with Android. In fact, the first device of the company after its deal with the Redmond tech titan was an iPad mini clone that was run by Android. With the return of the Nokia smartphones, albeit only in brand, marks a new chapter in the story of the Finnish tech giant.

Watch more details about Nokia smartphone 2017 below: