The on-handset store is being billed as "smarter" than Apple's version, with recommendation technology serving up content and apps to users based on their habits and/or current location.
Nokia has opened up its publishing system this morning, allowing content providers to upload their apps and games - the website is here.
Electronic Arts has already signed up, according to Nokia. The Ovi Store will offer a 70 per cent revenue share - matching the App Store and Android Market.
The first handset to have it preloaded will be the N97, which goes on sale in June, but more than 50 million existing Nokia handsets will be able to download the Ovi Store client at the same time.
Nokia said at the launch that it expects to be shipping 300 million Ovi Store capable handsets a year by 2012.
The company also announced two new Eseries handsets, bringing a more consumer tinge to its traditionally business-focused range.
The E55 has a BlackBerry-style compact keyboard, squashing two letters onto each key, while the E75 has a full slide-out QWERTY keyboard from the side.
Check our liveblog for the details as they went down.
