Nokia has major changes in store for its smartphone lineup. The company says it will release just half as many new smartphone models in 2010 in an effort to streamline its product portfolio, according to Reuters.

Nokia launched about 20 new smartphone models in 2009 and plans to lower its smartphone portfolio to about 10 devices in 2010 as it seeks to compete more aggressively with the likes of Apple.s iPhone and Research In Motion.s BlackBerry.

Nokia remains the world.s top-ranked smartphone manufacturer in terms of sales but has lost ground to the popular handsets of its newer competitors. Nokia reported in October that its share of the smartphone market fell to 35 percent in its third quarter from 41 percent the previous quarter.

Nokia.s current smartphone lineup has a multitude of devices that look similar to each other. Its 2010 lineup will strip out extraneous differentiation of devices while allowing the company to focus more of its efforts on individual models.

The news emerged in a Thursday Webcast as part of Nokia.s Capital Market Days.