Nokia is looking poised to make a big comeback in the smartphone market in 2017, the company revealed during its Capital Markets Day 2016 event.

A 2017 return would be advantageous for the brand because the non-compete clause it has from Microsoft, which took over the company, would expire that year. Nokia is looking to make a big splash with its upcoming line of smartphones. However, the brand will not be making the new devices since it no longer has the manufacturing capacity it once has when it ruled the mobile phone world.

The manufacturing of the upcoming Nokia devices would be handled by the Finnish company HMD Global, and Taiwanese giant Foxconn. HMD Global was granted an exclusive license to create Android smartphones and tablets that will bear the Nokia brand for the next ten years.

HMD Global was established earlier this year, and it will look to pair Nokia's list of patents with the research, development, and manufacturing capabilities of Foxconn. It is also expected to spend at least 500 million Euros ($532 million) on marketing during the first three years of its contract. In its deal, HMD Global will handle and develop marketing strategies to sell all Nokia smartphones and accessories.

There are speculations that the first Nokia-branded Android smartphone in 2017 could be the D1C. The device is expected to sport a Snapdragon 430 processor, 3GB of RAM, and a 1080p display. Additionally, it is likely to run on the Android 7 Nougat operating system

Nokia's comeback may be further strengthened at the Mobile World Congress in February 2017, where Nokia CEO Rajeev Suri is expected to make a keynote speech. Suri's participation at MWC 2017 was confirmed in October, and he is expected to make an announcement about Nokia's comeback in the smartphone market.