Innovation @ Nokia
I am amazed at how Nokia continues to be the largest and wildly profitable handset maker in the world, while Motorola, their main competitor, stumbled terribly. Here is a great example of why:

Nokia has announced a couple of new low end phones (1209 and 2600) for emerging (high growth) markets deliver what the customer wants: phone sharing (address book for 5 users with cost tracking), because users share phones; low cost: $50 and $90; FM radio, VGA cam. More details on MobileMentalism.

It is impressive that a company with 130,000 employees continues to launch innovative handsets that very effectively address the needs of each of their customers.