The Finnish company has reentered the mobile phone and tablet markets on a global basis, now that Microsoft's control of its name has ended.

The Nokia brand and its intellectual property will be licensed to HMD Global, a newly created Finnish company which will develop, produce and sell a range of Android smartphones and tablets.

The new company intends to invest over $500m £345m over the next three years to support the global marketing of Nokia-branded phones and tablets.

An exciting new chapter

Ramzi Haidamus, president of Nokia Technologies, said in a statement on 18 May: "Today marks the beginning of an exciting new chapter for the Nokia brand in an industry where Nokia remains a truly iconic name.

Nummela says HMD will be "completely focused" in creating a "unified range of Nokia-branded mobile phones and tablets, which we know will resonate with consumers...our business model is centred on the unique asset of the Nokia brand and our extensive experience in sales and marketing."

Nokia recently announced plans to buy Withings, the smartwatch and smart bathroom scale maker, and is currently producing the Ozo, a £43,000 camera rig which can shoot 360-degree video and audio, intended for virtual reality film making.

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