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.