Big Day for Nokia on September 5: What Does Tomorrow Hold for One-Time Mobile Phone Leaders?

“Things are about to change” – that’s what Nokia Corp.’s (NASDAQ:NOK) latest video advertisement is telling consumers. It teases an important event to be held on September 5, which we now know as the announcement of the new series of Lumia Windows Phone 8 devices.

This event, to be held in New York City, has the potential of giving us important insight into Nokia’s plans – what exactly does the Finnish company have in mind and how can it regain its footing in the smartphone market?

Right now, there isn’t much information available on the new Lumia devices. On the 29th of August, Samsung unveiled its ATIV S smartphone, effectively undercutting Nokia and one-upping the company by being the first phone maker to announce a Windows Phone 8 device.

Many experts believe Nokia will need to bring its “A” game on September 5, as the ATIV S comes with an impressive specifications list. That doesn’t appear to impress Nokia U.S. President Christopher Weber, though – the exec recently warned Samsung to “take note” of what the company will be unveiling on the 5th of next month.

Hopefully Nokia’s offerings will show the Finns fully harnessing the capabilities of Windows Phone 8 – unlike Windows Phone 7, the new OS supports multi-core processors and HD displays.

The Windows Phone 7.8 upgrade for WP7 users created some controversy a few months back, as Nokia announced then that WP7 devices cannot be upgraded to WP8. Here’s hoping Nokia makes up for that recent boo-boo, as it has a lot of catching up to do in the smartphone market.