Earlier this week Google announced that it was bringing Google Buzz to the mobile platform. Google Buzz is a location-aware messaging tool for Gmail, bringing real-time messaging, videos and photos to your Nokia. With Nokia’s Ovi Contacts offering a similar service, however, how do the two stack up against each other? Read on after the jump to find out…

Ovi Contacts has been around for a little while now, and like Google Buzz it’s also location aware. This means it’ll use the GPS chip in your Nokia to find out where you are, and it’s capable of doing the same for your friends, letting you know where they are and what they’re up to.

It’s also possible to have a chat with your mates using Ovi Contacts and the threaded messaging it provides, and because you can share your location it’s great for arranging to meet up. With the ability to chat using Wi-Fi rather than your phone’s regular connection, it can also be cheaper than sending text messages.

Ovi Contacts also offers a profile, letting you upload personal details, activities and a profile image. You can search for other people on Ovi Contacts using their names, but Nokia is working on opening up the search criteria in future versions.

Google Buzz offers some similar features, including the ability to send messages. Here, however, it pools all your friends from Gmail together, and lets you either chat privately to them, or to a wider set of people. You’ll be able to share photographs and videos with your friends, and Google Buzz is also compatible with Google Picasa and YouTube. Working in tandem with Google Maps, you’ll also be able to see where your friends have been, and what they’ve been up to.

Although Google Buzz and Ovi Contacts are social networking applications, they both have different things to offer. If instant messaging and chatting is what you’re after, we think that Ovi Contacts looks like a better bet, but for sharing images and videos Google Buzz is definitely worth a try.

Have you downloaded either of these applications? Let us know which you prefer.