Nokia is going to make a new smartphone sometime in the future, but it appears that the Finland-based company is going to take its time before launching a new product. Nokia CEO Rajeev Suri, while reconfirming that the company will re-enter the smartphone industry at some point, added that they have no specific timeline for those plans and they are in "no rush" to do so.
CNET reports that during a chat with the press during the Mobile World Congress 2016, Suri said of Nokia's reentry into the smartphone market, "It could happen in 2016, it could happen later." Due to their agreement with Microsoft when it bought out Nokia's Devices and Services division in 2014, Nokia isn't allowed to re-enter the smartphone market until Q4 2016 at the earliest.
Nokia still plans to license its brand name out to another phone manufacturer when it does start selling smartphones again, according to CNET:
"We want to be in a position to design the devices in question with appropriate control measures in case they don't meet expectations," said Suri. When asked whether Nokia would partner with Foxconn, which also works closely with Apple to manufacture iPhones, he said he did not know yet."