Nokia announced the release of the Nokia 500 for later this year; it appears that the phone will be the company's flagship smartphone in the increasingly crowded sub-€150 category facing the glut of Windows Phone 7 and Android handsets that will have come to the market by Christmas.
The phone boasts a 1GHz SoC, an uncharacteristically powerful model for an entry level smartphone, while the screen size and resolution (3.2-inch, 640x360 pixels) are the same as the 18-month old Nokia X6 which it is likely to replace.
The rest of the configuration includes Symbian Anna OS, a five megapixel camera without flash, 2GB internal storage (expandable to 32GB via a microSD card), Wi-Fi, black and white colour scheme - plus interchangeable battery covers - and should be available in the third quarter of the year.
Nokia says that the phone has seven hours talk time, can play video for 5.3 hours and music for 35 hours using a 1110mAh battery. Also noteworthy is the microUSB connector, Bluetooth 2.1, A-GPS and the onboard Ovi Maps service with free global drive and walk navigation.
A £125-ish Nokia smartphone would compete which the company's current cheapest smartphone, the Nokia C3-01 Touch and Type which comes with a proper keyboard but with an inferior screen and hardware.