Nokia won't be jumping into the Android business. Alcatel Mobile Phones (which makes the OneTouch and other devices) was originally a joint venture between Alcatel-Lucent and China's TCL -- and it's now 100 percent owned by TCL. Also, Nokia took pains to point out that while the merged business would be headquartered in Finland, France will remain "a vibrant center of the combined company." It added that it'll stick with Alcatel-Lucent's employment commitments in France -- no doubt because the Gallic nation is a shareholder and has been touchy about acquisitions of French companies like Dailymotion. The deal is scheduled to close in 2016.

Nokia said it may also sell off its Here mapping division to focus on the network business, but would only do it if the price was right. It was reportedly considering a sale to a German automaker consortium and even Uber, according to Bloomberg.