Something to look forward to: If you ask HMD Global, its 5G-capable Nokia phones planned for 2020 will have affordability as their USP. With the 5G network in its fairly early days, phones that currently support the spectrum often cost upwards of a $1,000, which Nokia tends to undercut by over fifty percent, meaning that a $500-$600 5G phone could certainly be on the table.

Appealing to the cost-conscious consumer, Nokia offers a very decent lineup of Android phones that, more or less, provide a similar user experience as that of costlier options, in most routine tasks anyway.

The company looks to continue that trend now that 5G phones are going to be the next big thing in the smartphone industry. Since most companies will soon be outing models with 5G support, preferably in their flagships, Nokia will distinguish itself with its "value" 5G smartphone.

Speaking to Digital Trends, Juho Sarvikas, HMD's chief product officer, said that the company sees a "particular opportunity" in bringing 5G to a more affordable segment as it enters the market. "I would say affordable in relation to what's available today. I would love to see us at half of the price where you have 5G today," said Sarvikas.

Current options in the 5G smartphone market are understandably limited and expensive for the most part. Both the Galaxy Note 10 Plus 5G and the LG V50 ThinQ 5G are upwards of $1,100. Cheaper options like the Motorola Z3/Z4 come in at around $800 if you count in the 5G Moto Mod accessory while the OnePlus 7 Pro 5G is only available with the UK carrier EE. Nokia 5G phones are also expected to be carrier-locked when they launch, like all 5G phones at present, due to the lack of interoperability between service providers.

Although Nokia can expect stiff competition from companies like Motorola and OnePlus, among others who'd be pushing 5G's adoption with their own cheaper offerings, a 5G Nokia phone in the $500-700 range could set an attractive price point among the competition.

In a recent tweet, Sarvikas also shed some light on Nokia's roll out plans to update existing phones to Android 10. The first three phones to receive the update, in Q4 2019, are the Nokia 9 PureView, Nokia 8.1 and Nokia 7.1.

Early next year, the company will bring Android 10 to most of its remaining devices while the Nokia 1, 2.1, 3.1 and 5.1 would be the last candidates in its current line-up that'll be receiving the Android 10 update in the second quarter of 2020.