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Nokia's Lumia phones are being rebranded Microsoft (Photo: Microsoft)

Nokia, commenting on media speculation, said it doesn't have any plans to get back into the smartphone market.

"These reports are false, and include comments incorrectly attributed to a Nokia Networks executive," the Finland-based network equipment and mapping software maker said in a press release. "Nokia reiterates it currently has no plans to manufacture or sell consumer handsets."

The International Business Times, a digital news publication, reported last week that Nolia has been working on new Android phones to be produced in China from next year. It cited trade publications as the source of the rumors.

Nokia sold its mobile phone operations to Microsoft in 2014 for 7.5 billion dlrs. The company announced last week that it is planning to acquire Alcatel-Lucent to form a new company that will be one of the top-three makers of telecommunications equipment.