Nokia to Kick-Start the iPhone “Fightback” With E7

Next week is an important one for Nokia. At Nokia World 2010, the company is expected to officially unveil the smartphone that will, in the words of embattled CEO Olli-Pekka Kallasvuo, “kick-start Nokia’s fightback” against Android and the iPhone. That device–the E7–is rumored to be a touchscreen QWERTY handset running Nokia’s Symbian^3 OS, and there’s a lot riding on it, including Kallasvuo’s tenure as Nokia’s CEO. Its debut follows reports that the company has been looking to replace him following two consecutive quarters of lowered profit outlook and declining relevance in the smartphone market.

These days Nokia’s (NOK) struggles in the top end of the market are almost clichéd, and its failure to develop a compelling offering weigh on it more heavily with iPhone 4 and various Android handsets winning more and more consumer mindshare. That said, Kallasvuo insists Nokia will soon recapture its lost glory. “We are approaching the end of this painful product transition at the high end of our product portfolio,” he said during the company’s last earnings call. “[Our new smartphones] will mark the beginning of our renewal. As we go forward I believe we will regain high-end leadership in our industry.”