No, Nokia Isn't Returning to Phone-Making Business

Nokia is not returning to phone-making business, the company confirmed recently contrary to reports that claimed the return.

In an official statement, the company said it had no plans to jump back into the turbulent, cut-throat business of making mobile phone handset.

"Nokia notes recent news reports claiming the company communicated an intention to manufacture consumer handsets out of a R&D facility in China. These reports are false, and include comments incorrectly attributed to a Nokia Networks executive."

"Nokia reiterates it currently has no plans to manufacture or sell consumer handsets," company said in a short official statement.

However, notably, the company has not specifically denied reports that it will continue licensing mobile designs to another manufacturer, as it has already done with its N1 tablet, made by Foxconn.

Forbes noted that earlier this month the Finnish and one of the oldest mobile phone manufacturer completed a deal to buy network equipment maker Alcatel-Lucent for $15.6 billion. It is also reported that the company is midst of trying to sell its GERE mapping unit for an estimated $3 billion.