Acting on its goal to explore new opportunities in emerging markets, mobile phone maker Nokia on Tuesday unveiled its least expensive handset ever, priced at $32.

The Espoo, Finland-based company said it will introduce a range of Internet-based services geared toward developing economies, along with its first handset with an integrated music player designed for emerging markets.

The six handset models will range in price from $32 to $117 with a number of models shipping in 2008. The Internet-based services, which will include email, along with education, and agriculture apps will be available starting in 2009.

Nokia is not the first mobile phone maker to market low-priced handsets in emerging markets. In 2004, the GSM Association (GSMA) launched the Emerging Markets Handset Program (EMHP) with the goal of creating an ultra low-cost category of mobile devices.

Motorola was chosen as the first participant in the program. But the program did not live up to its promise in part because of Motorola’s inability to keep up with its timetable of shipments. Motorola took a financial hit.

“A big part of the reason for Motorola’s failure was the phone looked cheap and did not have any razzle dazzle,” said Sameer Mithal, senior principal at IBB Consulting. “That will be a challenge for Nokia. Also, the language component must be right or the phone will be useless in places like India.”

Nokia executives say the company will be able to offset low margins with expected volume and low-cost manufacturing. The company also believes it will be able to migrate segments of users to higher-end models and more sophisticated services as the mobile web emerges.

“By introducing products and services that are affordable, relevant, and easy-to-use, we believe Nokia can fuel the growth of the Internet in emerging markets through mobility,” Robert Andersson, Nokia’s executive vice president of devices, said in a statement.

The Nokia 1202, the $32 model, includes a flashlight, a phonebook, and extended battery life. The 1661, which sports a color screen, a flashlight, an FM radio, and multiple phonebooks, will be priced at $39.

The top of the line 5130 XpressMusic device will be priced at $117. There are three other models – the 2320, 2323, 2330 – that will range in price from $52 to $65.