Nokia that is left still has 41 000 people and Nokia Research units will be left to them, their Devices R&D will be moved to MS. What exact R&D units those are we don't know, other than Cambridge material research and Nokia's Helsinki reseach unit. Naturally all of the NSN R&D units will remain in Nokia, that is by far largest part of Nokia's R&D.
Nokia's Michael Halbher was interviewed this week and he said that nothing stops Nokia making devices and they are making concepts for new form of devices. Though Nokia can't use Nokia brand in "mobile devices" till the start of 2016.
What does Nokia’s future hold? | WPSailors
I personally don't believe Nokia will be jumping on traditional Android phones. They have over 10 billion euros in their bank and most of all profitable business after Devices business is sold to MS. They will be making devices combined to their nano and graphene research and will possibly need Android or they just buy Jolla to use Sailfish, but I don't think they want to ruin their now profitable business by jumping to tarditional smartphone market any time soon.
After the deal is completed do you really think that Nokia will have the resources needed to make a phone? I mean the devices division will be sold. If they want to make phones again (good ones) they would have to start everything from scratch, that would take years! And Nokia isn't interested in making more phones... If they were why would they sell their devices division? Think man!
Because that Device unit is the only non profitable part of Nokia at losing 1 billion euros yearly. Windows Phone strategy also failed and their phone sales are coming down at alarming level. Now they were able to get out of the MS partnership and can start fresh with plenty of cash and without the heavy factoy base like Apple and don't have the cheap phones sales on their necks anymore.
Though like I said, I doubt that fresh start will mean traditional smartphones for them.