I think Nokia (NOK) shares are a great value today. The shares have been under pressure due to a few factors. There is a lot of "smart phone hype" which has been driving investors to Apple and Research in Motion, and away from Nokia. But Nokia excels in getting their phones to the market quickly. They also are good at selling cheaper phones in emerging economies, who lets face it, make the choice of Nokia phone with a few less features, or no phone. They also have a strong worldwide brand, which is one of Warren Buffet's main criteria for choosing a stock.
Best of all, the stock is cheap. Its trading at less than 10x earnings. A nice 2.7% dividend, and exposure to many growing international economies. I see a nice opportunity here.
Here's a column about Nokia's brand via Seeking Alpha.
Disclosure: Long NOK.