20111025 nokia
Flags are pictured in front of Finland's mobile phone manufacturer Nokia company's plant on January 18, 2008 in Bochum, Germany. - 

Steve Chiotakis: In London today, struggling cellphone maker Nokia unveiled some new handsets that run on Microsoft's Windows operating system. Now Nokia's trying to make a comeback with the Lumia 710 and 800 models. They're expected to be introduced
in the U.S. sometime next year.

But Marketplace senior business correspondent Bob Moon reports the company can't afford to wait too long.

Bob Moon: Nokia's chief executive Stephen Elop has admitted the company is desperate after its previous attempt at smartphones flopped. Now the company is counting on Microsoft's wizardry, while the software giant is hoping the partnership will provide the boost its Windows mobile system has long needed.

Charles Golvin is a telecom analyst at Forrester Research.

Charles Golvin: I expect that there is going be some burgeoning momentum behind the Windows phone system and that Nokia can ride that to some level of success. Now, that's not a slam dunk.

Nokia remains the global leader by number of cell phones, but Golvin says it'll have to fight hard for a share of the smartphone market here. He says the company is almost starting from scratch.

Golvin: It's certainly do or die for them in the U.S. market, I think this is their last opportunity to get it right.

A few months ago, though, Nokia's CEO took comfort in the "drooling" that he said he saw at a preview of the company's new offerings.

Stephen Elop: I want more drool. I mean, we want that. We have to delight customers.

Do that, he says, and Nokia's problems will take care of themselves.

I'm Bob Moon for Marketplace.