HMD Global is Finnish company behind these phones, Nokia provides the brand and huge patent portfolio in exchange of royalty payments. Nokia did not invest into this company.
Third big player behind the scenes is Foxconn Technology Group. They bought all Microsoft/Nokia phone manufacturing plants, and they will build these phones. This provides them the opportunity to diversify their customer base.
As a someone who has Nokia shares and follows the company, I would say Nokia is still 'hold', not necessarily buy. This phone/tablet deal is low risk reasonable reward deal for Nokia. If HMD Global reaches its goals, Nokia will get nice royalties and the brand value grows.
Nokia's two main businesses are Nokia Networks (Mobile Networks, Fixed Networks, IP/Optical Networks and Applications & Analytics ) and Nokia Technologies (patent licensing, proprietary technology licensing, brand partnerships, incubation and research labs).
Nokia Networks business model is clear and in good shape. Nokia Technologies is basically massive patent portfolio and large R&D arm without products (unless research goes to Networks). Profits come trough licensing deals. Whitings, VR efforts etc. might pay off or not.
Third big player behind the scenes is Foxconn Technology Group. They bought all Microsoft/Nokia phone manufacturing plants, and they will build these phones. This provides them the opportunity to diversify their customer base.