Announced early Wednesday morning at Nokia's GoEvent, in a plan to expand the company's revenue, Finland-based company Nokia Inc. is developing a mobile phone similar to its rival iPhone, which will be available in the near future for Nokia customers. The phone is expected to be available by 2008.
Most of the features are the same as the iPhone's. They include music, games, and many other features, even ones that the iPhone may not have. Ovi (in Finnish meaning "Door") will be the door for more than 2 million songs and games available for download on the new device. Users will be able to download wirelessly in their own home or anywhere there is access to a computer.
But this is not the first time Nokia has made an attempt like this to increase its revenue. In October of 2003 the company revealed the N-Gage, a game-playing cell phone, but was "stocked-out" due to poor sales. The N95 smartphone, which was released in the U.S. on April 7, 2007 (before the iPhone on June 29, 2007) includes WiFi, a GPS, a music player, and a 5 megapixel digital camera. The three other phones that were revealed at the event in London will be in-stock next quarter. The new N81 and the modified N95 smartphones were among the revealed at yesterday's event; the N81 is a new member to Nokia's smartphone family; the N95 has been modified by having more memory and a sleeker LCD screen.
When Nokia was asked about the striking similarity between this and the iPhone, Nokia's Executive Vice President and General Manager of Multimedia, Anssi Vanjoki, said, "If there is something good in the world then we copy with pride."
Nokia first demoed their iPhone rival August 29th.  During their demo they omitted the fact that the demo was for the software to be in use, not the actual hardware.[1]

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Nokia Inc. announces plans for iPhone rival