Nokia executives are optimistic that the release of the Apple iPhone will boost demand for high-end mobile phones.

Speaking at a Reuters technology event on Monday, Nokia chief financial officer Rick Simonson described the release of the iPhone as a chance to give US consumers a high end mobile choice.

"The iPhone is interesting. It's very much a validation of what we've been doing, in terms of saying there is a multimedia device out there that people will pay for," he said, according to Reuters.

Simonson added that while some elements of the iPhone are new to Nokia, his company does have its own technological prowess to fight back with.

"Don't get me wrong, they will bring some things to the table that we have to be responsive to, but we have been investing in this area or some time," he said.