The Nokia Lumia 800 has an 8 megapixel camera and tight integration with social media, but will it be enough to take on the iPhone?

Nokia unveiled its first phones based on Microsoft’s Windows Phone Mango operating system at its Nokia World event in London today.

Nokia CEO Stephen Elop called its two new smartphones, the Lumia 710 and Lumia 800, the “first real Windows Phones,” dismissing WP7 devices from rivals HTC and Samsung.

The Finnish handset maker also referred to the phones as a “new dawn for Nokia.” The 147-year-old company is banking on its partnership with Microsoft – on whose operating system Nokia is now mostly dependent – to regain its former dominance in the mobile world.

However, some analysts are already predicting that the phones, while solid, won't be a serious threat to the iPhone or Android-based devices.

The success of the Nokia partnership is also critical for Microsoft as it looks to boost its smartphone market share beyond 5 percent and compete with the iPhone and Google’s Android devices.

The Lumia 710 has a 5 megapixel camera and 8GB of memory.

John Delaney, Research Director at IDC, is one such analyst, reports KnowYourMobile.

"Given Nokia's recent reverses in the smartphone market, Lumia clearly faces something of an uphill struggle," said Delaney. "We don't think the Lumia 800 is an iPhone or Galaxy killer. Those two franchises still have very strong momentum, and there's nothing unique about the new phone that looks powerful enough to stop them in their tracks."

Nokia’s flagship device, the Lumia 800, has a 3.7-inch touchscreen, 16GB of memory, a 1.4GHz processor and an 8 megapixel camera (though no front-facing camera). The phone is priced at 420 Euro ($585) and will be available this November in six countries: the UK, France, Spain, Italy, Germany and the Netherlands.

The Lumia 710 is considered the budget handset at 270 Euro ($376), but won’t be coming to market until later this year. The 710 features a 3.7-inch anti-glare touchscreen, 5 megapixel camera and 8GB of memory. Nokia said it will be initially available in Taiwan, Hong Kong, India and Russia.

Both phones offer 25 GB of free SkyDrive cloud storage from Microsoft, as well as Mango's social hub, which tightly integrates Facebook, Twitter and Bing. Nokia's additions include turn-by-turn navigation, an ESPN sports hub and a MixRadio app, which lets users stream music, but also download and play music while offline.

As we reported yesterday, the phones won’t be available in the U.S. until 2012, though Nokia will be heavily marketing the devices in Europe this holiday season.

Nokia’s Elop has also hinted that the phones will support 4G LTE and CDMA, which means Verizon is likely to get the devices when they hit the U.S.