When Microsoft announced that it was buying the devices and services division from Nokia, many worried that we might have seen the last Nokia-branded phone. But fears should be waylaid, as the former CEO of the Finnish company, Stephen Elop, says the name would be licensed for future Lumia smartphones.

Microsoft will be keen to build the Lumia brand further for sure, but there was never really any suggestion that it would rebrand Lumia phones Microsoft Lumia. When it acquired Skype, it didn't add its own name as a prefix, and the Xbox line-up is simply that.

Read: Microsoft acquires Nokia's devices and services business for Windows Phone unity

Perhaps in the distant future, Microsoft will be keen to switch to just Lumia and Asha - the two brands that are part of the acquisition - for its phones and tablets, but for now Nokia will very much continue as the main identifier for its new division.

"We will license the Nokia brand to use on our mobile phones and products," said Elop.

It is believed that, like with the patents required to build Lumia and Asha devices, Microsoft will pay for a 10-year licence.