The Nokia 500 is still hot out of the oven and Nokia has put up a promo video for it. Its the second Nokia phone using a 1GHz processor and the first one to do it on Symbian^3. The video revolves around the motto express yourself hence the upbeat song in the background.

The video shows-off the functionality of the new Symbian smartphone to install a variety of apps through the Ovi store, changeable covers that make the device look flamboyant, the fast 1GHz processor and finally, the fact that this smartphone gives you more.

Promo Below!

You thought Nokia naming convention sucked? Well, you are not alone. I do, too. The good news is someone at the company is finally coming to their senses. The unexplainable model naming fiasco that caused serious confusion for consumers is finally coming to an end.

Today, Nokia is officially changing its naming convention, and they are making it as simple as it was back in the mid-1990s. The latest Nokia 500 is actually the first product from the new era.

The new naming pattern which Nokia is about to follow is as simple as it gets. The new models by the company will have three digit numbers as a name. There will be no more dashes, hyphens and whatnot to confuse us any further. The higher the first number, the richer its features and higher the price point will be. So for example when we hear Nokia 110, we will immediately think a budget device with only the basic features covered.

There are plenty of numbers between each of the hundreds so as far as the available names are concerned, Nokia should be well covered for a few years to come.

Nokia Maps is well known alongside Google Maps and Bing Maps though its been naturally exclusive to Nokia phones on the mobile scene. Starting today, the service is available to iOS devices (iPod Touch, iPad and the iPhone) and Android phones with HTML5-compatible browsers. This means that you will be able to use the browser-based Nokia Maps services (directions, searching for places, browsing maps) on your iOS or Android smartphone without the need to change camps.

As I personally can attest, Nokia Maps works great on an iPhone 4. It offers full multi-touch support and feels fluid. All services on it (positioning yourself on the map, searching for directions, etc.) work just fine.

I also went to test the Nokia Maps mobile website on the Sony Ericsson Xperia Arc and sadly, it had no support for multi-touch. We dug in the site code and as it turned out, Nokia never intended for the mobile version to be pinch-zoomable and the HTML5 code clearly states so to the mobile web browser. Its just that the iPhone Safari could not care less about that particular piece of code.

Nokia just announced their Q2 financial results sales volumes decreased and the company posted an operating loss of nearly half a billion euro. On the up side, IP royalty payments went into Nokia pocket, to the tune of €430 million.

Net sales of the Devices & Services department of Nokia decreased 20% Year-on-Year (YoY), down to €5.5 billion. Of that, feature phones pulled in €2.55 billion (20% down YoY) and the smartphones made €2.37 billion (down 32% YoY).

The company as a whole has €9.26 billion in net sales (down 7% YoY) and an operating loss of €487 million. The Average Selling Price (ASP) remained mostly unchanged since last year Q2 overall it was €62 (up from €61), smartphones getting €3 pricier on average (€142 ASP for Q2 of 2011) while feature phones' ASP fell a euro to €36.

It was the lower shipping volumes that reduced sales. Nokia shipped 20% fewer devices overall (88.5 million in total, compared to 111 million for Q2 2010). The European, Asian-Pacific and Chinese markets saw significant reductions in unit volumes - about 6-8 million devices less were shipped this quarter compared to the year-ago quarter.

Nokia introduced a new platform, MeeGo, with the Nokia N9 and they have started shipping the first Symbian Anna phones this quarter plus they have started shipping the Symbian^3 handsets with Anna, but that did not help much as there was strong pressure from competing smartphone platforms, especially in Europe and China.

Today we got lucky! A new unannounced S40 Nokia handset with a 1GHz processor and 512MB RAM broke loose and we got a few shots to show you. The Nokia C3-01.5 is the first S40 phone based on the new hardware platform, but it looks exactly as its C3-01 Touch and Type sibling.

Just a month ago we heard about a new wave of S40 handsets coming up. We also encountered an interesting rumor about a new S40 handset with a 1GHz processor, 512MB RAM, a ClearBlack capacitive display and hardware QWERTY keyboard.

The Nokia C3-01.5 that we meet with today is not the rumored handset, but it probably comes from the same lineup. Its a refresh of the already familiar C3-01 Touch and Type with the notable improvement of a 1GHz processor and 512MB RAM. The rest of the specs should be the same.

According to a few leaked documents, the new models that Nokia has in the works are the C2-01.5 (RM722), C3-01.5 (RM-702), X2-01/X2-03 (RM-709), X3-02.5 (RM775 or RM-776) and the X2-01.1(RM-717). As you can see all these should be upgraded versions of some old fellas.

The Anna update brings quite a lot of changes to the Symbian platform and Nokia is obviously worried that some of them might go unnoticed by the users. Thats why the company has released yet another video demonstrating the latest version of their mobile OS.

We are expecting Nokia to start seeding Symbian Anna to eligible devices towards the end of August so now looks like a good time for a refresher course. Check out the video so you can see the new interface and some of the most important apps in action.

Video Below!