Nokia appears to be returning with a bang.

The new Nokia P1 device looks set to get its grand unveiling at Mobile World Congress later this month and excitement around the device has seen shares in the company soar.

In fact, as more details have begun to leak about the P1, stock has risen by over 4 per cent in the past few days over 10 per cent since December.

It's good news for the famous Finnish firm whose phone division was sold to Microsoft in 2014.

Microsoft has since ditched the branding and sold its feature phone assets to a subsidiary of Taiwanese firm Foxconn Technology and newly-established firm HMD Global for $350 million.

One thing this new device will feature that Microsoft never introduced is a popular Android operating system.

New figures released this week have shown that Microsoft’s original smartphone software has suffered another slump in sales as it falls further behind Android and iOS.