Nov 24, 2016 05:39 AM EST By Noi Ramirez, UniversityHerald Reporter

Nokia of Finland is coming back to the smartphone market scene with a rumored 5.2-inch or 5.5-inch display handset sporting a Snapdragon 820.

After being absent from the scene in the advent of Android, Nokia plans to return to its roots and sell smartphones. An official announcement came from the Finnish company itself through a slide featured in its investor-focused presentation at the Capital Markets Day Event.

The rumored specs of the upcoming Nokia flagship according to a leaked Weibo post are two possible screen sizes as mentioned above, with a QHD resolution. A snapdragon 820 chipset is rumored to be powering the phone with a slated release in 2017, according to GSMArena.

The Nokia phone will apparently sport a Carl Zeiss camera branding as in the old Nokia's. It may come in a branded metal smartphone casing with a Nokia badge on top, indicating the phone will be all-metal. The new Nokia is also rumored to be waterproof.

Just as always with devices, everything is still a rumor until an official announcement for the company is made.

However, the caveat is that Nokia itself will not be actually producing the phones as they used to during the time when Symbian handsets were king. Nokia will just be a party as owners of the brand and patents and act as overseers in the creation of the new smartphones. HMD also intend to make tablets carrying the Nokia brand, according to Digital Trends.

HMD will be the one actually making the new handsets, a new entrant established only this year. The new company is also based in Finland. Arto Nummela as CEO heads the company. Nummela was a former senior Nokia exec and at present manages a huge portion of Microsoft's phone divisions.

HMD plans to pump in $500 million in global marketing to revitalize the Nokia brand within the next three years.

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