When Microsoft (MSFT) acquired Nokia (NOK), it only purchased the Devices division, costing them $7.2 billion. This left the Software & Service Division still in Finland, and looks to have saved Nokia from failure.

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Just this quarter, Nokia announced record profits and excellent revenue, coming from its networking and communications side. Nokia has been pushing out HERE Maps to Android and other services, which were locked onto Windows Phone for the longest time.

This reorganization of priorities may give Nokia a new lease on life, away from Windows Phone that continues to have just a 3 percent share of the market. The Devices division now owned by Microsoft may forever develop Windows Phone, but Nokia in Finland is not bound by these shackles.

However, Nokia Software & Services is bound by Microsoft to not use the Nokia or Lumia name to develop phones, at least until 2016. This will allow Microsoft to re-establish the brand and make sure it is different from the current "Nokia Lumia" devices.

Nokia has already displayed its interest in re-entering the smartphone market. In interviews, several executives have spoke of the possibilities, and it looks like the only thing holding the company back in the Microsoft contract to keep them away from mobiles until 2016.

These new mobiles will not run on Windows Phone either, the Nokia division based in Finland has awful memories of Windows Phone - ruining the once great phone maker - from its prominent position as one of the most powerful players in the industry.

This is in part due to ex-CEO Stephen Elop's unusual idea of how to make Nokia successful again. In the later stages, Nokia did test some low-end Android devices, to see how they would do in developing markets like India, Indonesia, China and others.

It is expected that the new Nokia would invest heavily in Android and offer a full suite of apps. Nokia is currently flying high with record profits, due to removing their manufacturing department, so they might invest in a third-party manufacturing deal, from Foxconn or someone else in China.

This would allow Nokia to work based off feedback from the market, instead of having factories running 24/7. Apple has deployed this approach for the past 10 years, which many business analysts say is Tim Cook's best move since arriving at the company.

TagsNokia Software & Services, Nokia, Finland