Nokia planning comeback to phone market next year?

Nokia planning comeback to phone market next year?
Nokia's chairman Risto Siilasmaa

Nokia may make a comeback next year, according to sources of tech news site Re/code.

According to Re/code, two sources briefed on Nokia's plans claim that the company plans to return to the phone market next year.

Insiders also reportedly told Re/code that Nokia has "a lot of great stuff in development" and consumers will be blown away if some of them make it to the market.

The initiative is said to be driven by Nokia Technologies, the smallest of the three businesses that remained following the sale of its devices and services unit to Microsoft.

Nokia Technologies is the business unit that churned out the Z Launcher app for Android devices, and the Android-powered N1 tablet. It is also well known for its massive portfolio of over 10,000 patents which it licenses to other companies.

Besides the phone business, Nokia is said to be focusing on several ambitious tech projects, some of which are in the realm of virtual reality (VR). It makes sense for Nokia to venture into this space as many companies seem to be focusing on that area too.

Apple acquired 3D company PrimeSense in 2013, which could potentially equip future Apple devices with features such as augmented reality gaming, virtual shopping, 3D scanning and photo enhancement.

HTC recently partnered Valve to break into the VR headset market. Meanwhile, Samsung has collaborated with Oculus to offer the Gear VR for use with its Galaxy Note 4.

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