Nokia denied reports in Chinese media that it planned to return to manufacturing phones. "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," Nokia said in a statement posted on its website.

"Nokia reiterates it currently has no plans to manufacture or sell consumer handsets."

However, Nokia has said it is looking into returning to the smartphones business by brand-licensing.

Nokia sold its phone business to Microsoft last year. As part of the agreement between the two companies, Nokia cannot enter the mobile phone business before 2016.