Nokia has revealed that it plans to start licensing its brand, allowing third-party manufacturers to create products using its name.
Speaking at Nokia’s capital markets day, Ramzi Haidamus, president of Nokia technologies, outlined that while the company is restricted on using its brand on smartphones until the end of 2016 – due to the acquisition of its mobile business by Microsoft – it plans to start licensing its name in other areas starting this quarter.
Nokia will use the brand ‘in the areas that we can and the areas where the brand is relevant’, according to Haidamus.
"We have a very valuable brand," said Haidamus. "Yes it is diminishing in value, and that’s why it is important that we reverse that trend very quickly, imminently."
Nokia has a prototyping team that will build concept devices and demonstrate them to customers with the aim to licence the tech involved.
While the firm cannot return to handsets just yet, seeing as Microsoft has dropped the Nokia name from its latest Lumia smartphone range it is thought that Nokia may make a comeback in the smartphone sector after Q4, 2016.