Nokia Unveils China 3G Phone

Nokia Corp. (NOK) unveiled its first cell phone developed with China’s homegrown third-generation mobile technology Tuesday, saying it would aim to “democratize” the smart phone market by aiming to sell lower-priced handsets at higher volumes.

The phone and others like it in the company pipeline could help Nokia, which has struggled globally to keep pace with Apple Inc. (AAPL) in the fast-growing, higher-margin market for premium smart phones since Apple’s iPhone was released in 2007, to close some of the gap by capitalizing on its strength in developing markets. But its look–a slider-style with a mirror-like screen, isn’t much different than what consumers have seen before.

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