The devices will be based on Nokia's S60/Symbian OS software stack running on the Mobile Station Modem (MSM) chips from Qualcomm. The launch of these devices is expected in mid-2010, by which time the Symbian Foundation should be in full flow, and the devices will be compatible with that variant of the OS.
The MSM is an ARM Architecture chip, and currently can be found in an number of devices, including Kyocera, Motorola, LG and Samsung. Given the knowledge that Qualcomm has, these devices could mark the beginning of a renewed marketing push in North America from Nokia. We'll just have to wait and see.