Finnish tech company Nokia on Sunday turned down the reports that it is planning to return into the smartphone business to boost its profit and user base.
In a blog post, Nokia discredited the reports that have been making rounds since last week.
“The company reiterates it currently has no plans to manufacture or sell consumer handsets. These reports are false, and include comments incorrectly attributed to a Nokia Networks executive,” Nokia said in the message posted on its official website.
It has been a year now since tech giant Microsoft has closed the deals of purchasing the phone business of Nokia. However, the prevailing situation has failed to discourage the murmurs that Nokia would resume the business someday.
In its report last week, tech website Recode has said that that Nokia is working on re-entering the consumer handset market likely by next year. The report cited two unnamed sources familiar with the matter.
Meanwhile, the market analysts said whatever is Nokia’s plan, but the company is completely restricted by its agreement with Microsoft. Under the agreement, Nokia cannot use Microsoft’s brand on phones until Q4 of next year.