ESPOO, Finland – Nokia today launches the latest C5 device, an inexpensive touchscreen smartphone with a couple of neat features that may well pique your interest if you want a new device that’s simple to use but covers all of the essentials for modern-day phones. What’s new with the C5-03? Find out more and feast your eyes on the pictures after the break.

The device has a 3.2-inch touch display and now features Wi-Fi, for fast internet access without the need or expense of a data plan. It also features a compass and assisted GPS for use with the latest version of the free Ovi Maps hands-free navigation service, now featuring public transport support and location sharing through social networks. Like many recent Nokias, you can put your most important contacts directly onto the homescreen so you can call, message or chat them up in just two taps. The C5 has a 5-megapixel camera with 4X digital zoom, but no flash.

It measures 105.8 mm x 51.0 mm x 13.8 mm (L x W x H) and weighs 93g – that makes it a similar size to the (imminently) forthcoming C6-01, and quite a bit smaller than the Nokia N8 or C7. It comes with up to 40MB of user memory and support for MicroSD cards up to 16GB. The talktime is quoted at 11.5 hours for GSM use and 4.5 hours using 3G. Standby time is estimated at 24-25 days. The operating system is Symbian^1 (aka. S60 5th edition touch-edition).

The Nokia C5-03 allows for easy email set-up – either an existing webmail or POP3 provider through Nokia messaging. For business users, there’s also the option of Mail for Exchange. If that isn’t enough, you’ll also find a quick setup wizard for Ovi Mail for users either new to email or who want a different account for their mobile messaging. As you’d expect, there’s also access to Ovi Music and the Ovi Store so you can fill your device with fresh content on a daily basis.

The two-tone colour scheme comes in both bold and restrained flavours, as the pictures show.

Launching globally at the end of this quarter, the Nokia C5 is expected to retail at around €170 before taxes or operator subsidies.