Nokia's Numbing New Lineup

ESPOO, Finland (

TheStreet

) --

Nokia

(NOK) - Get Report

shows a weak hand going into the holiday sales game.

The Finnish phone giant unveiled four previously announced phones and a friend-tracking service with Facebook during its Nokia World event Wednesday in Stuttgart, Germany.

And while the smartphone presentation offered few surprises, Nokia did manage to stand out from the netbook crowd by revealing more details about its me-too laptop called Booklet. The

Microsoft

(MSFT) - Get Report

Windows and

Intel

(INTC) - Get Report

-powered notebook takes a page from

Apple's

(AAPL) - Get Report

uni-body design with a solid aluminum case and a hefty $816 price tag.

Investors weren't exactly jazzed about the product lineup going into a fiercely competitive year-end sales season. Nokia shares, which fell 5% to $13.32 Tuesday, were flat early Wednesday at $13.33.

Nokia says it plans to sell a cheaper version of its flagship smartphone, the N97, for $639 without phone company subsidies. The company also showcased two multimedia phones, a premium model with 32 gigabytes of memory for $639 and a less endowed model for $163.

One bright spot in the lineup was the new N900 smartphone, which will run on Nokia's Maemo software, a Linux-based operating system that crosses over into mini-computer territory. Nokia plans to offer the phone for $711.

Nokia is the No. 1 mobile-phonemaker, but it has been losing ground to Apple,

Research In Motion

(RIMM)

and

Palm

(PALM)

in the crucial smartphone segment of the market due to its slow shift toward touchscreen devices.

The company has recently shown signs that it is breaking from its stubborn tradition of resisting trends by disclosing plans to jump into the netbook market last month.

The Booklet 3G notebook is an effort to get phone partners to support a data device with price subsidies in exchange for yearly wireless service contracts. The list price of $816 would likely be less for customers who buy the notebook through a telco.

Written by Scott Moritz in New York

.