Nokia phones are making a comeback thanks to a licensing deal struck between Microsoft, FIH Mobile—a subsidiary of Foxconn—and HMD global Oy.
Those facilities, as well as Microsoft's feature phone technology, will be used to create new Nokia phones as part of an "exclusive global" licensing agreement between HMD global Oy and Nokia Technologies.
The deal will allow HMD to produce phones and tablets bearing the Nokia brand name for the next 10 years.
While no devices have been announced just yet, HMD plans to invest $500 million into the venture.
Microsoft stopped developing feature phones—the likes of the Asha, Series 40, and Nokia X handsets—back in 2014, with one of the last to appear being the Nokia 215, which was notable for sporting a promised month-long battery life.
As for the rest of Microsoft's smartphone business, the company promises that it will continue to support the likes of the Lumia 650, Lumia 950, and Lumia 950 XL.