It seems the news about the death of Nokia is greatly exaggerated. The Finnish company has announced that it will be launching an Android smartphone in 2017.

The announcement was made during the recent capital markets day of the company where execs presented a slide to investors on Nokia's two-year outlook.

In the slide presentation, 2017 would be the year when the company would expand its VR leadership, transition to digital health brand, patent licensing in mobile, consumer and automotive electronics. And then there's this line, "Nokia brand's return to smartphones."

According to ZDNET, this news is hardly surprising considering that Nokia is still a big-name brand and launching an Android smartphone would be a good way to maximize its own patent portfolio, which include optics, hardware, connectivity, applications and services.

It said that almost 10,000 patents can be traced to Nokia Technologies while 17,500 come from Alcatel Lucent.

A report from NDTV claimed the Nokia Android smartphone will have either a 5.2-inch or 5.5-inch QHD screen display. It may also be powered by a Snapdragon 820, which is not impressive to say the least when the regular mid-range phone is already using the Snapdragon 821.

Also, it could feature the Carl Zeiss lens in its main camera, which was already adopted in various Nokia phones like the N95, N78, N79, N85, Nokia 5800 and many others.

The news also reported that the Nokia Android smart phone for 2017 will also have a metal body which would be waterproof. The new device will be manufactured by HMD Global based on the 10-year agreement with the Finnish company.