Nokia unveiled new financial targets on Friday and said it was teaming up with Microsoft to take on Google and Apple in the fast-growing smartphone market.

Following is a selection of comments regarding the news.

JUSSI HYOTY, HEAD OF STRATEGY, FRONT CAPITAL

Here we have two companies with enormous resources. If they are allocated well, and they are able to reach the same agility than Apple and Google, there are fairly good chances for them. An Android partnership would have been more difficult to build for Nokia.

GEOFF BLABER, CCS INSIGHT

This is a partnership born out of both party's fear of marginalization at the hands of Apple and Google but there is no silver bullet.

This is a very frank admission that Nokia's platform strategy has failed and underlines the seriousness of Nokia's position. Such a move would have been unthinkable just 12 months ago.

FRANK MEEHAN, CEO OF PHONE MAKER INQ MOBILE

It's a good move for Nokia. With Nokia's muscle and distribution power behind WP7 this could work. However, a new rebranding for consumers would help. Windows/Nokia needs something more sexy.

Also operators will want to see a Nokia/WP7 tie-up as it keeps competition high in the industry and avoids a duopoly.

However, consumers decide, not operators, what to buy and if Nokia does this they should try and rebrand the whole OS - give consumers a new thing to get excited about.

Apple inc. Smartphone Microsoft