Bloomberg is reporting that Intel will announce a major deal with Nokia during its conference call today, but details are still quite sketchy.

Nokia has relied on ARM CPUs for years, but all this could change soon. Intel still doesn't have any chips that could directly replace ARM parts in mobile phones, but at the same time it is unclear what the deal entails. It is obviously a strategic, long term partnership, and we could see some new chips from Intel down the road.

However, it seems a bit more realistic that Nokia will go for Intel's upcoming Moorestown MID platform, which could be used in a wide range of products. We can only speculate what Nokia will eventually come up with, a phone, MID, smartbook or netbook, at this point it's anyone's guess.

In any case, Intel is set to make a major step toward penetrating the mobile market, which is currently dominated by the likes of Texas Instruments and Qualcomm.

More here.