Yes there is always a possibility that Nokia will design and then have someone else build a nice looking phone, but it wont have anything to do with Windows.
Please go through some recent history, Nokia was in trouble, they had missed the smart phone bandwagon just like MS, MS unlike Nokia had lots of cash and needed a partner to make hardware that would use WP software, so they started a partnership, MS pumped lots of money into Nokia but they were still going broke and MS almost had no choice but to buy the phone making division of Nokia.
They did not buy Nokia, they are still an independent company now rich on MS money but no phone making division.
MS tried to incorporate a loss making entity into it's way of doing things but phone designs don't happen overnight and pretty much all of the designs for the "Lumia" range of phones are still from the Lumia division of MS but drawn up when they were part of Nokia.
MS pretty much gave up a few months ago when they wrote off the several billion dollars they had used to buy the Nokia phone making division.
It did one thing, it gave them a slim but still alive lifeline to some kind of future for Windows on mobiles.
I am here for Windows on phones, my phone just happens to be a Nokia Lumia 1520, I know some people are died in the wool fans of Nokia but they do not have a phone division, if they do ever go back into the phone game it will be as designers but even then most of them went over to MS, and then the phones will be made elsewhere and they will have Android or some other OS, the chances of them ever having Windows are far slimmer than finding new WP in a Verizon shop (I can see that happening in a few months, whereas there is zero chance of a new Nokia phone using Windows).
If you are so in love with Nokia that you cannot see how Nokia failed because they didn't see the future, then maybe time for new glasses I am afraid.