Nokia will ship by the end of this year a number of new phones that offer rich multimedia capabilities. One of their phones has a 4 GB hard drive that will store 3,000 songs.

This is significant partly because in 2004 Nokia owned more than 30% of the global market for mobile phones, almost twice as high as the number two player Motorola.

Nokia is also talking about how nanotechnology will enable Nokia to cut costs on phones within 2-3 years. In order to have 3 billion phones in use by 2010, "costs will have to be on a completely new level" says Chief Strategist Tero Ojanpera.

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Posted in: Gadget Watch Nanotechnology

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