A Nokia gaming phone

Nokia is launching two mobile internet services to diversify its revenue streams as handset prices depreciate.
The new services are N-Gage, a gaming platform, and Share on Ovi, a social networking site that allows people to share content.

Share on Ovie was is built on Twango technology, acquired last year from Twango.

Mobile gaming went through an unexpected slump last year. Developers blame carriers for not investing sufficiently in games. Around 90 percent of game purchases are made through an operator portal.

Despite this, Informa expects mobile game revenues to reach $7.2 billion in 2012 from $3.2 billion in 2007. Additionally, Informa expects social networking revenue to grow to $29 billion by 2012 from $1.5 billion in '06.

In the final quarter of 2007, Nokia produced 40 percent of all mobile phones sold worldwide.