Nokia kicked off the week by announcing the new Nokia 500, an all-new handset that ushers in an all-new naming convention. But there are plenty of other points worth noting about this Symbian Anna handset – read on for the full details. 

The Nokia 500 is the latest addition to the Symbian fold, and like the Nokia E6 and Nokia X7 before it, it comes running the latest Symbian Anna operating system. But unlike those handsets it doesn't fall into Nokia's existing naming convention, but instead introduces a whole new one.

The three-digit numbering system does away with the existing N, E, X and C letter prefixes, and instead brings everything back into a single line, with the first number denoting where in the scale from entry-level to high-end the handset sits, and the subsequent numbers indicating where in that series it falls.

In other words, the Nokia 500 is the first in a new mid-range line of Nokia smartphones. But what else about it do you need to know and how does the Nokia 500 compare to other Nokia handsets? Here are the main points:

Compact candybar
The Nokia 500's screen size, 111.3 x 53.8 x 14.1mm dimensions and 93g weight make it a fairly close match to the current Nokia C5-03, though it's slightly taller and definitely less rounded. Overall, though, it definitely qualifies as “compact”

3.2-inch touchscreen
And like the Nokia C5-03 and Nokia C6-01, the Nokia 500 opts for a 3.2-inch screen size, which provides an ideal compromise between a decent expanse of screen real estate and genuine pocketability and lightweight construction.

Resolution
The Nokia 500 also matches its C Series stablemates for screen resolutionat 360 x 640 pixels, though unlike the resistive-only Nokia C5-03 it features a capacitive touch panel.

1GHz processor
One of the real eye-openers about the Nokia 500 is its 1GHz processor, a match for the new Nokia N9 and faster than any other handset Nokia has produced thus far. That should make the Nokia 500 positively fly along.

Storage
The Nokia 500 also goes its own way by providing 2GB of on-board storage. It's not quite the 8GB or more we're used to seeing on high-end Nokia handsets, but at its price point it's well ahead of what we've seen in the past from Nokia.

Symbian Anna
This also marks an interesting next move for Symbian Anna, which thus far has been pushed at the high end of Nokia's smartphone portfolio. The Nokia 500 is a leaner, meaner offering, and with that speedy processor should potentially get the most out of Symbian Anna we've seen so far.

Camera
Here's another feature that has us thinking of the Nokia C5-03. The camera seems to be all but identical, offering a 5-megapixel resolution and VGA video recording – very much a middle-of-the-road proposition.

Talktime
Battery-wise, the 1110mAh cell isn't far short of the 1200mAh unit offered by the Nokia E7 and Nokia N8, but with that 1GHz processor to power, it's no real surprise. All told you should be good for up to 7 hours of talktime, or up to 500 hours on standby.

Interchangeable covers
The Nokia 500 is all about personal expression, and you get three interchangeable covers in the box to help you do the job. By the end of the year there will be a wide range of colour options available to choose from.

Competitive price
In pricing the Nokia 500 at €150 before local taxes and subsidies, Nokia isn't aiming at other Nokia handsets but rather at every budget smartphone rival out there, and most notably the competition from Android. It's certainly a price that will be hard to beat.

Are you excited at the prospect of the Nokia 500 touching down? Give us your thoughts in the Comments below!