Nokia Unveils Affordable Social Networking C5 Smartphone

Nokia (NYSE:NOK) unveiled its new C5 smartphone model Tuesday, hoping to capitalize on the market for low cost smartphones and increasing demand for mobile social networking capabilities.

The C5 handset will be one of Nokia's cheapest smartphones, selling for 135 euros (USD $183), excluding taxes and subsidies, and is scheduled to go on sale at some point in the second quarter.

The compact gives users access to Facebook or MySpace and quick and instant messaging as well as email accounts from Ovi Mail or other email providers.

The handset features a 3.2 megapixel camera, a 2GB memory card (included in the sales package) and a high-speed data connection for image loading and videos on a number of social networking sites.

The C5 also boasts the latest version of Ovi Maps with Free service car and pedestrian navigation, which includes the ability to share one's geographic location with friends on Facebook.

The C5 can also browse the internet, enabling users with easy access to music through Ovi Music.

Following the introduction of the C series, Nokia now has four smartphone product families; The E series, for enterprise, the X series for youth and music, and the N series, which is the company's most advanced models.