I'm leaning towards the latter.
Nokia is in a rough patch. While their smartphone sales have stopped freefalling they still have yet to see a product that gets people excited in nearly the same fashion as a new Android/iPhone device. Reuters reports that this won't be the case for long. The company aims to turn things around with the launch of their new flagship E7.
We know this phone will pack a large touchscreen and a full keyboard. It will be shown off in detail at a show in London. Keep your fingers crossed for MeeGo!
At least one new Symbian device will be revealed at that show; the N8. It will pack a 12 MP camera and start selling later this month.