Nokia announced two new phones aimed at developing countries such as India, Vietnam, Pakistan, etc. The models in question are 2600 classic and 1209.
Nokia 2600 has a 65k color display, a VGA camera, Bluetooth port, FM radio tuner, and can use MP3s as ringtones. Its dimensions are 109, 6x49, 7x12mm, and it weighs 73,2 grams.
Nokia 1209 is a cheap model, and the features are slashed to a bare minimum that phones should have today. Dimensions are 102x44, 1x17.5mm and it weighs 79 grams. In order not to look that basic, Nokia put a small LED lamp on the top of the phone. Since you can find LEDs anywhere today, even on lighters, it's not something you'd call impressive.
The Nokia 2600 is already on the market and priced at 65 Euros (+ taxes), while the Nokia 1209 will cost about 35 Euros and should be on the market sometime in Q2 2008.