While Nokia's (NYSE:NOK) partnership with Microsoft (NASDAQ:MSFT) has given the company the tools it needs to fight Google (NASDAQ:GOOGL) and Apple at the premium end of the smartphone spectrum, shoring up sales at the low end is critical for the company's continued success as well. To address sliding sales, the company is introducing one of the least expensive mobile phones ever sold.

In the video below, Fool.com contributor Doug Ehrman discusses the specifics of the new device, its importance to Nokia, and how the company is positioned for the rest of 2013.

Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool recommends Apple and Google. The Motley Fool owns shares of Apple, Google, and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.