Nokia announced its entry into the burgeoning netbook market with its very own version of what it thinks consumers will want to buy – the Booklet 3G.

The Nokia Booklet 3G is your ordinary netbook with built-in GPS. But is the additional of GPS and Nokia mobile services sufficient to warrant the US$819 price tag? In my opinion, NO!

The netbook’s chief value proposition is price, followed by portability and connectivity (in that order). Nokia product engineers and marketers must have thought that the other way around also works.

At the recently concluded Hong Kong computer festival, you can buy an entry level netbook with almost everything you need to run, including Windows XP, at a starting price of US$192. And you don’t need to buy a wireless service just to avail of a telco’s usual subsidy for handsets – something that is losing its marketing appeal in Hong Kong, where more handsets are bought without any service contract.

In 2008, Nokia advertised the N9x series as a computer. In fact by end of 2008, it was rumored that the N97 was Nokia’s answer to the netbook craze. Now, we know those rumor mongers were dreaming.

And today with Nokia’s Booklet 3G announcement, you can tell Nokia is still dreaming!