Om Malik believes that mobile phone handset manufacturers that make cool phones are going to be most profitable over time. The evidence he cites is Sony Ericsson's year-over-year profit increase.

Handset manufacturers with the greatest recent sales increases are Sony Ericsson and Samsung. They are apparently taking share away from Nokia, who has not produced as many phones with cameras as the other companies.

Om Malik says that the hottest phones in India right now are the Sony Ericsson Z600, or the even more exclusive P900. Part of the interest in these phones is related to their exclusivity, but they are widely thought to be excellent performers. The Z600 and P900 phones are tough to come by in the USA.

A more practical alternative in the America right now is the Samsung E715. I've mentioned this phone repeatedly on Operation Gadget since its first appearance at the beginning of March. It's got a good camera that has flash and white-balance capabilities. It also has IRDA for wireless connectivity, but no Bluetooth. This puts it slightly above the Motorola V300 in some areas, and behind it in others.

The problem for Motorola is that it doesn't have enough models like the V300 in its line. It needs a few more cameraphones with different capabilities at different price points. It should do well with its MPx-series of smart phones, once a GSM 850 model is on the market.