Nokia smartphones and tablets will return as Android devices under new parent companies HMD Global Oy and FHI Mobile Ltd.
With Microsoft nearly giving up on its mobile future after purchasing Nokia's devices and services division for a staggering $7.2 billion, the former world's NO.1 phone manufacturer attempts a comeback. If that had happened it would have sounded a death knell for Windows Mobile so - in for a penny, in for a pound - Microsoft was more or less forced to buy the whole thing. The deal will see about 4,500 employees leave Microsoft.
Despite this trend, a large market continues to exist for more affordable feature phones. CCS Insight predicted worldwide sales of feature phones will reach 550 million units in 2016, and will likely slip to 240 million units by 2020.
"The feature phone unit never sat comfortably within the Microsoft organisation and CCS Insight believes Microsoft will be relieved to offload a non-strategic asset while it still has some value", according to the analysis.
Microsoft, on the other hand, said that it will continue to develop Lumia phones from partners like Acer, Alcatel, HP, Trinity and VAIO.
CCS also noted that feature phones are still popular in emerging markets like India and sub-Saharan Africa "principally because they are an affordable option in regions where even the cheapest Android smartphones are out of reach for many consumers".
However, will these newly launched Nokia smartphones and tablets be able to make their mark in this competitive market being dominated by companies like Samsung and Apple, and startups like Xiaomi and OnePlus?