Nokia plans cheaper phones to offer Smartphone capabilities from 2007

Nokia is the world’s largest seller of mobile phones and they are now hoping that starting next year, we would see cheaper phones to offer Smartphone like capabilities.

The company believes that lower manufacturing costs would result in better functionalities appearing in more medium-priced phones in 2007.

Matti Vanska, vice president at Nokia’s technology platforms business said in a statement: “Rising volumes open increasingly more opportunities as they are lowering component prices and the total bill-of-materials.”

This is also expected to help the company boost its sales and profits as more and more consumers would be interested in paying a little extra to get more functionality from their mobile phones.

The company has already shipped more than 70 million S60-based phones so far. And they now expect the market to grow to reach roughly 100 million in 2006 and to grow to 250 million by 2008.