Nokia (NOK) buys Navteq (NAV), busts Apple's (AAPL) iPhone chops

In a two fisted attack on Apple Inc.'s (NASDAQ: AAPL) iPhone, The Associated Press reports that Nokia Corp. (NYSE: NOK) is buying navigation software maker Navteq Corp. (NASDAQ: NVT) for $8.1 billion at the same time that it launches a humorous ad campaign that disses the iPhone.

These moves are putting the iPhone in Nokia's cross-hairs. The Navteq buy will enable Nokia to offer location-based services. According to PC World, Nokia said it would continue to serve Navteq customers such as Mapquest, while also using the map services to offer more location-based services of its own. Such services make it easier for people to get traffic reports or find local restaurants and gas stations from their mobile phones.

At the same time, as reported by engadget, Nokia's ad mocks the iPhone for being closed to hackers who tried to alter the iPhone's software so they could access networks other than that of AT&T Inc. (NYSE: T). However, despite Apple's efforts to fight those hackers, the hackers are fighting back.

Let's hope that Nokia's salvo against the iPhone results in a device that more consumers can embrace.

Peter Cohan is president of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.