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Nokia confirmed today they were simply demonstrating the S60 OS is capable of iPhone-like touch screen navigation. Although it is not clear why they did not explain the concept yesterday, one can only assume they wanted the extra media attention. Good move, because it obviously worked =;^}
Since the Nokia N95 has already been demonstrated to work well with the iPhone-esque interface, (see video below) it will be interesting to see if Nokia will offer the new UI when the N95 is released in America.
*Notice when he scrolls through the song list (near the end) it lacks the rubber band effect found on the iPhone.