After conquering some the camera market, Nokia is now targeting music players and handheld video. Last year, Nokia became the world's largest digital camera maker when it shipped over 100 million cameraphones.

Nokia executive Anssi Vanjoki also said last week that the announcment from Konica-Minolta to stop making digital cameras will be followed by similar announcements from other manufacturers.

Last year Nokia made 40 million music phones and set a target to double this volume in 2006. This means Nokia is now setting its sights on the music player and camcorder markets, by adding those functions into its phones.