5 Hot Devices From Mobile World Congress (Update 1)

Updated from 11:16 a.m. EST to provide analyst comments regarding Nokia's product launch in the ninth and 10th paragraphs.

NEW YORK ( TheStreet) -- The Mobile World Congress event, which kicked off in Barcelona this week, is a chance for consumer electronic companies to show off their latest and greatest tablets and smartphones.

As rivals scramble to compete with Apple's ( AAPL) increasingly popular iPhone, companies like Samsung, HTC, and Nokia ( NOK) are showing off their newest gadgets.

One key trend at MWC; companies trying to pack more features into their offerings without significantly raising prices amidst a weak global economy. There is, however, innovation on show at this year's event, as evidenced by Nokia's attempt to revolutionize smartphone camera technology and Samsung's buzzed-about "projector phone."

Here are five of the most exciting products from the 2012 Mobile World Congress:

Nokia's 808 PureView

Nokia announced a smartphone earlier this week that it's touting as a revolution in smartphone camera technology.

The Finnish handset giant is, of course, trying to reverse market share losses in the lucrative smartphone market, and this offering may help ease investor worries. Nokia Shares are up 12.9% year-to-date.

With a powerful 41-megapixel camera, the 808 PureView has created plenty of buzz in Barcelona. The phone also lets users zoom up to 3x and comes with 1080p HD video.

The phone itself is pretty powerful, running a 1.3 GHz processor, with 16 GB of internal memory, and a MicroSD slot to expand to 32 GB. The screen is four inches, and contains Corning's ( GLW) Gorilla Glass.

ThinkEquity analyst Mark McKechnie wrote in a research report that he came away "encouraged" by Nokia's offerings, including the aforementioned 808 PureView. He has a $5 price target on shares.

McKechnie wrote that he believes Nokia is "still on a mission" to create a third-ecosystem.

The phone is expected to cost around ¿450, or around $600, and will start shipping in Europe in May of this year.

Samsung Galaxy Beam

One of the largest and most surprising announcements so far from Mobile World Congress came from Samsung, as it tries to pack as many features into a smartphone as possible.

The Korean tech giant debuted a smartphone billed as the world's first "projector phone," the Galaxy Beam.

Running Google's ( GOOG) Android 2.3 OS, the Beam is not your average smartphone. It contains a high-definition video projector built into the phone. The projector can project HD images as large as 50-inches across.

The phone also has a 4-inch Super AMOLED screen, a 5 MP camera, in addition to the projector. Price and availability for the phone are not yet known.

HTC One X

HTC unveiled its One series in Barcelona, launching the One S, One V, and lastly, the One X. The One X is chock full of features, running Qualcomm's MSM8960 chip, and contains 16 GB of RAM. The screen is 4.7-inches, and the phone is HTC's fastest LTE offering to date.

The HTC One X also contains Universal Beats Audio, and has 1GB of memory RAM.

There is no word on pricing or availability yet.

Asus PadFone

As if you weren't confused enough by tablets pretending to be laptops --which are pretending to be smartphones-- enter the Asus PadFone. Unveiled on Monday at Mobile World Congress, the PadFone is a three-in-one device featuring a 4.3-inch Android smartphone that can transform into a tablet through a dock accessory. The dock, known as the PadFone station, has a 10-inch screen and a battery which keeps the device juiced up to 16 hours. There's also a keyboard dock available which turns the product into a netbook.

Asus says it will provide information about pricing and availability for the device beginning in April.

Huawei's MediaPad

Chinese consumer electronics company Huawei announced on Monday its second tablet: the 10-inch MediaPad. Running on Android 4.0, the slate features a super-fast quad core processor--the smallest and fastest chip available for mobile devices, the company says.

The MediaPad boasts a display with 1920x1200 pixels of resolution, making it ideal for entertainment like watching movies and playing video games.

The tablet will be available in the second quarter of this year.

-- Written by Chris Ciaccia and Olivia Oran in New York

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