Nokia is standing where Nintendo once stood: struggling to hold market share against powerful juggernauts, and in dire need of a bold product that eschews conventional wisdom, challenges consumer's expectations, and tickles developers' imaginations.
The problem is that Apple already did that recently. The iPhone was Apple's Wii, and now it seems incredibly difficult for Nokia to innovate that much that quickly without creating something the world might not be ready for, like the N-Gage.
I hope they pull it off though. Respect for the candor in the memo.