Publish date:

Nokia N8 Rhymes With Late

Phone giant Nokia finally gets in touch with the touchscreen trend and promises a third-quarter arrival.

Updated since 9:14 am EDT with Nokia share price.



) --


(NOK) - Get Nokia Oyj Sponsored ADR Report

unveiled the N8 Tuesday, its boldest effort yet to catch up with


(AAPL) - Get Apple Inc. (AAPL) Report


Three years and

a dozen market-share points

late, Nokia has introduced a thin touch-screen phone that will be available in select markets -- read maybe the U.S. in the third quarter.

The standout features include a 12-megapixel camera with high-def video, free Navteq-powered navigation and 16 gigabytes of memory. The N8's 3.5-inch screen and a half-inch thickness is roughly the same as the iPhone.

The N8 is the first phone to use Nokia's Symbian 3 operating system, which promises to heat up the legal battles, because it uses multitouch controls like pinch and finger-spread zoom. This is one of the technologies popularized by Apple's iPhone and at the core of

Apple's patent infringement

lawsuits against Nokia and more recently


. Nokia started the patent fight last year

accusing Apple of infringement

TheStreet Recommends

on some of its wireless technology.

The Next Crisis For Customer Satisfaction (Forbes)

Nokia has been struggling to develop a touch-screen phone that could help it compete with the likes of Apple and an expanding roster of


(GOOG) - Get Alphabet Inc. Class C Report

Android-powered phones made by



and HTC.

Nokia has managed to remain the top smartphone maker globally, but it has lost a lot of turf to rivals like

Research In Motion


and Apple.

>> Who Owns Nokia?: Karen Finerman

The N8 is

aimed directly at Apple

and the touch-screen trend.

One of the biggest challenges, beyond phone design, is finding support among U.S. phone companies to sell the phones. Telco subsidies cover as much as $300 of the customer's cost of the phone. In the exchange, the telco gets subscribers locked into two-year service contracts.

In recent years, Nokia's promise of a new generation of touch-screen phones has been a disappointment. The N8's arrival hopes to deliver on that promise and get Nokia back in the game.

Nokia shares continued their week-long 18% slide, falling 2% in midday trading Tuesday.

--Written by Scott Moritz in New York.