Nokia Corporation (NYSE:NOK) wants to expand their offering of Windows-based smartphones. DigiTimes reports that Nokia could offer an entry-level phone that’s marketed specifically towards consumers in growing markets. These phones may be released by the end of the year.

The requirements for the Windows Phone 8 are even stricter than all their predecessors. This phone includes a dual-core processor and NFC (Near-Field Communication) support. These features are more difficult to add to entry and mid level phones ,which is why they needed to create less expensive versions of the  Windows phone.

Just last week, Nokia Corporation (NYSE:NOK) introduced their upcoming Windows phone 8 including the Lumia 820 and the Lumia 920, the latter of which will feature NFC and wireless charging.

Earlier this summer, Nokia Corporation (NYSE:NOK) got themselves into trouble when they announced that most current Nokia owners will not be allowed to upgrade from their current operating system to Windows Phone 8. The one option available  for them was an upgrade to Windows Phone 7.8.

Kevin Shields, the Vice President for Nokia, said that the company will continue to invest in Windows Phone 7, so that the developers will continue to create applications for both systems.

Sadly, we don’t know much more about the rumored Windows entry-level phones.

The fact that Nokia Corporation (NYSE:NOK) wants to increase their line of smartphones is a good thing. They realize that not everyone wants the same kind of phone and so they want to give customers a  choice. The more they offer, the more likely customers are willing to spend on their phones and in turn increase their revenue. The only downside to this, is that if it doesn’t work out, it could end up costing the company even more money in the long run and it might hurt the company’s financial future.

Hopefully, Nokia Corporation (NYSE:NOK) has a few plans and some financial wealth in store. The company needs a solid plan to bring them out of the current trouble they are in.