Intel, Nokia Plan to Make Plans ... Big Plans

(Updates stock prices)

Searching for help in a wireless device market that's rapidly undercutting their core businesses, Intel (INTC Quote) and Nokia (NOK Quote) have decided to work together on new mobile-chip efforts.

The two companies hosted a joint press conference Tuesday to announce the "multi-year collaboration."

In its simplest terms, the planning seems centered on Nokia's desire to make Linux-based netbooks with Intel's help. And chipmaker Intel agreed to license Nokia's 3G wireless technology, presumably to make both processors and the wireless modems to connect gadgets to the Internet. ...