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Competitive pressures and the need to get more phones into more hands drive the cellphone maker to work smaller.

"In order for there to be three billion mobile phones in the world by 2010, costs will have to be on a completely new level," Nokia Chief Strategist Tero Ojanpera said on Wednesday.

Nanotech, the science of handling solid matter on a scale of one-billionth of an inch in size, would itself be implemented on a small scale at first. Components like casings for phones could get the first treatment.

"Phones below 150 euros ($194 USD) are a very important segment for us where we are developing cost effective solutions. They could come from nanotechnology," said Mr. Ojanpera.

David Utter is a staff writer for WebProNews covering technology and business. Email him here.