Update: During a Q&A April 28, former Nokia CEO Stephen Elop revealed Microsoft Mobile Oy is not a brand, and Nokia is not going to be renamed that.

Elop said, "Microsoft Mobile Oy is a legal construct that was created to facilitate the merger. It is not a brand that will be seen by consumers.

He continued: "The Nokia brand is available to Microsoft to use for its mobile phones products for a period of time, but Nokia as a brand will not be used for long going forward for smartphones. Work is underway to select the go forward smartphone brand."

Original article below...

The grand old name of Nokia will be dropped from the company's title as soon as the Microsoft takeover is rubber stamped this month, according to a letter sent by the new owners to suppliers.

According to the letter, unearthed by Nokiapoweruser, the Nokia Corporation/Nokia Oyj (Ltd) name will be replaced by the new Redmond-owned subsidiary Microsoft Mobile Oy.

The note also attempts to reassure suppliers that their existing relationships and terms will remain in tact as the new Microsoft era begins.

It reads: "Please note that upon the close of the transaction between Microsoft and Nokia, the name of Nokia Corporation/Nokia Oyj will change to Microsoft Mobile Oy. Microsoft Mobile Oy is the legal entity name that should be used for VAT IDs and for the issuance of invoices."

RIP Nokia?

What this means for the future use of the Nokia name in terms of new devices remains unclear.

Is this renaming simply for business purposes or is there a wholesale rebranding coming which will see the devices released under the Microsoft Mobile moniker?

Last October, then-Nokia CEO Stephen Elop (who is now heading up Microsoft's devices division), hinted the Nokia brand may disappear in the future, along with the Lumia range.

"What we have to decide is what the brand will be," he a said. "Because we have not decided what brand will be dominant for smartphones, that's work that's still ahead. And of course the way we'll go through that process is to assess with consumers what they respond most positively to, what conveys the best message and the best hopes of success."