This Could Threaten Apple’s iPhone

"I went to a boxing match and a hockey game broke out," goes the old joke.

Now it's "Two types of cameras are fighting and a smartphone war broke out."

Once the pride of Finland, cellphone-maker Nokia is now worth just one-tenth of what it was in 2007. Rivals Apple and Samsung now dominate the mobile market. Nokia's revenues went from nearly $57 billion in 2010 to just under $40 billion last year. Last week, Standard and Poors downgraded the company to B from BB-.

But Nokia wants the world to know that, although they may be Finnish, they're not finished.

The company plans on releasing a 41 (!) megapixel camera in its new 808 PureView phone, hoping the trend for people to photograph their lunches and share them on the Internet also requires higher definition images.

Yet Apple, one of Nokia's largest rivals, may have something up its sleeve, according to the website The site says they've discovered Apple is designing a feature called "Mogul" which would allow iPhone to record slow motion video at 120 frames per second.

This feature may undoubtedly excite cat owners everywhere as it allows them to upload to YouTube excruciatingly slow motion videos of kittens trying to walk newly waxed floors.

So, does Nokia's new camera give it new life compared to what Apple may have in store?

We ask CNBC contributor Steve Cortes, Founder of Veracruz TJM to look at the fundamentals. Coming in at high def on the charts is Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson.

To see Cortes and Ross analyze Apple versus Nokia, watch the (regular motion) video above.

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