Nokia the company still exists. It owns the Nokia brand and has massive mobile patent portfolio (only licensed to Microsoft). Nokia is made of NSN (Nokia Solutions and Networks), maps and The Nokia Research Center.
Nokia is prohibited from using the brand to sell mobile phones for few years (ending 2018). It's completely possible that they come up with new gadgets or even phones with Nokia name.
Jolla http://jolla.com/ was founded soon afterwards by people who left Nokia. The name Jolla means dinghy, skiff or lifeboat in Finnish.