Recently on one of the client machine, this error message "No Devices found" started popping up while the AX Client is loaded.
This is caused by an unregistered ocx file on the client.
To fix this you will need to register the smmPhone.ocx located in C:\Program Files\Microsoft Dynamics AX\40\Client\Bin folder using regsvr32
Command line is:
regsvr32 C:\Program Files\Microsoft Dynamics AX\40\Client\Bin\smmPhone.ocx
but had to go to a cmd window, cd to the C:\Program Files\Microsoft Dynamics AX\40\Client\Bin folder and then run
Restart the box.