Geo to Announce Deal With Nokia

Israeli firm expected to provide chips for live cell-phone video.
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Geo Interactive Media Group, which trades on the London Stock Exchange, had a happy announcement today, after its recent spate of sorry news.

The company has been slammed by personnel upheavals, including the departure of CEO Shai Schiller, sending its stock spinning downwards to a low of 5 pounds. Today, however, Geo is expected to report a key agreement with

Nokia

(NOK) - Get Report

to use Geo's trademark Emblaze chip in its new 9210 model wireless phones.

The Nokia 9210 web-surfing phones sport a color display. Thanks to Geo's chip, cellular surfers will be able to watch videos, live or on demand, as well as getting news, weather updates, sports and financial reports as well as video and regular email.

The phone allows data transmission at a rate of 43.2 kilobyte a second, with predictions of 2 megabytes a second within a few years.

Geo developed the Emblaze chips for cellular phones in partnership with

ARM

(ARMHY)

, which is considered to be Europe's leading company in this sector. Geo has launched two main chips, the A2 and A3, for video compression and decompression on cellular phones.

Geo and South Korea's

Samsung

, one of its biggest clients, recently announced the launch of the Geophone -- the world's first phone that enables its users to watch video files.