Nokia is all set to make a comeback into the smartphone industry by designing and licensing its own phones as soon as its agreement with Microsoft allows it to do so in 2016.

Once the world’s biggest mobile phone manufacturer, Nokia sold its Devices and Services Division to Microsoft last year, with an agreement that only allows licensing again in 2016.

Rumors of the company’s demise loomed as Nokia relinquished control over its new line of devices, Lumia and Asha. However, Nokia hinted at its revival by releasing an Android tablet, Nokia N1, in China later during the year in 2014.

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With the release, many speculated that Nokia would soon be making a comeback to the mobile phone world and its CEO, Rajeev Suri has just confirmed so.

According to a German publication, Manager Magazin, Suri stated that Nokia plans to design smartphones and license them to suitable partners again from 2016. Moreover, with Nokia’s USD 17.8 billion acquisitions of Alcatel-Lucent and it’s Here technology attracting transportation companies and automakers’ attention, it seems like Nokia is all set to make a solid comeback.

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Microsoft, on the other hand, having been stuck at the bad end of the USD 7 billion deal, is expected to write off the Nokia licensing as a loss and go back to its core software business. Added to this is the recent resignation of former Nokia CE, Stephen Elop, appointed by the software giant.

Read more: Microsoft Bids Official Goodbye to Nokia Brand Name

With Nokia N1 being an affordable success, many are predicting Nokia’s entry into the smartphone market a surefire hit too.

For those who have always been fans of Nokia’s hardcore hardware and loyal to its brand name, the news of new Nokia designs is definitely welcoming.