When Microsoft bought Nokia's Devices and Services division in 2013, there was an agreement made that keeps Nokia from entering the smartphone business until the fourth quarter of 2016. However, it appears that Nokia will indeed be doing just that once that agreement expires.
Speaking with Germany-based Manager Magazin, Nokia CEO Rajeev Suri had this to say about re-entering the smartphone market:
This news comes as Microsoft announced earlier this week that it would merge its devices group with its operating system division under the new Windows and Devices Group. Stephen Elop, the former CEO of Nokia, has now left Microsoft as its devices head, along with its phones leader Jo Harlow.
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