Foxconn Technology Group, the Taiwanese electronics contract manufacturing company, is planning to release another new Nokia device after the successful Nokia N1 tablet.

This comes on the heels of Finnish company Nokia's announcement earlier this month that it would return to the smartphone business by releasing new products under its name sometime before the end of next year.

Nokia said it aimed to design the new smartphones under its brand but would not manufacture them.

Techno Buffalo recently reported that Foxconn's new Nokia N1 Android tablet device had been very successful in the Chinese market.

Reports say Foxconn plans to release the new Nokia smartphone in China once again, including India and some countries in Europe. Not much is known yet about the details of the new smartphone, but it's possible that it will run on the Android operating system as well, according to Techno Buffalo.

Foxconn is apparently targeting countries where budget smartphones are becoming increasingly popular, according to reports.

Chinese company Meizu recently launched its new Ubuntu-based Meizu MX4 smartphone in the European market, while Samsung Electronics released new mid-range tablet devices in India.

The Nokia N1 tablet was released in the Chinese market last January. The device sports a 7.9 inch IPS LCD display screen with a 1536 x 2048 resolution and is protected by Corning Gorilla Glass 3.

The N1 tablet runs on the Android 5.0 version Lollipop operating system and is powered by Intel's Atom Z3580 chipset. It comes with 2 GB worth of RAM and non-expandable 32 GB internal memory storage.

The Nokia N1 comes with an 8 mega pixel camera on the back and a 5 mega pixel camera on the front. The device is powered by a non-removable 5300 mAh battery. The N1 tablet is available in natural aluminum and lava grey colors, according to GSM Arena.