Yesterday Nokia announced its anticipated "Tube" touchscreen phone will go live sometime before 2009. The first model will target the "volume market" instead of the high-end market currently served by iPhone or the Samsung Instinct.
The so-called "Tube" is formally dubbed the XpressMusic 5800. Geek.com and Engadget are unenthusiastic about the handheld, but the latter points out Nokia did ship 122 million handheld units in Q2 2008. (The company clearly has no trouble selling what it makes.)
Last May Nokia announced its intention to reposition itself more of an "internet company" than a mobile phone manufacturer. Considering the iPhone 3G sold one million units in its first weekend, manufacturing mid-range touchscreens in particular do not promise to be very lucrative for the company.