Nokia says will be back Connecting People

Finnish telecom equipment maker Nokia plans a global comeback into its former goldmine of handsets and tablets by licensing its brand to a newly-created Finnish company.

Nokia will grant HMD Global Limited the exclusive global licence to create Nokia-branded mobile phones and tablets for the next 10 years, the world's former number one handsets company said in a statement on Wednesday.

As part of the process, HMD Global and its Taiwanese partner FIH Mobile of Foxconn Technology Group will take over Microsoft's feature phone business for $350 million, which it had bought from Nokia in 2014, the US company said in a separate statement.