Fortune magazine is reporting that Nokia, the world's largest phone manufacturer, is in the midst of a reorganization it says will help the company grow beyond phones and cellular equipment.

The new corporate structure, which takes effect January 1, 2008, will divide the Finland-based company into three main units: Devices, services and software and markets, according to the article. It's the services and software part that stands out for a phone manufacturer - typically more concerned with churning out devices than with providing services.

"Nokia's been doing this for a long time, and this is just the next step in moving beyond the devices themselves," said iSuppli analyst Tina Teng in the article. She added that the company's music service (Comes With Music, which we've discussed at length) in particular could be a game changer and a threat to carrier-operated stores, much like Apple's iTunes Store. "Just look at what Apple did with their Wi-Fi enabled iPhones. You don't have to go through the cellular networks to download music anymore."

Nokia divides itself in three [Fortune]