Nokia unveiled two new high-end phone models, the N79 and the N85, as the firm battles against increasing competition from the likes of Apple and Samsung, a Reuters report said.
The news lifted shares in Nokia more than 2% as it reassured investors the company was on track to refresh its offering for the key Christmas sales period.
Newer and more expensive models usually have higher profit margins than older, cheaper phones.
The N79 and N85 models will go on sale in October, the Reuters report said.
Both new phones, upgrades of Nokia's older models, will have 5 megapixel cameras and pre-loaded games.
The N85 will retail for €450, excluding operator subsidies and taxes, and the N79 will go on sale for €350.
Nokia, which controls 40% of the global mobile phone market, has an even higher market share among the most expensive phones, helped by the success of its flagship N95 model.