I've been following the release of the new Galaxy S III fairly closely and was constantly thinking to myself: this is how Nokia should have done it.

The Galaxy SIII was announced beginning May 2012 and released globally (sans the usual suspects) end of the same month. Then not even a week later the kernel source code is released to make the devs happy who had helped the predecessor become so successful).
Hardware wise you push for bleeding edge features in every significant category:

• CPU: dual core Krait@1.5GHz or quad core Exynos@1.4GHz
• Screen: currently highest resolution available for <5" (1280x720)
• Flash memory: 16-64GB expandable via micro-SD
• Battery: 2100mAh *user replaceable*
• GPS+GLONASS
• designed to allow for wireless charging

And THIS is how you create a vibrant "ecosystem" around it:
Samsung has outdone Nokia in producing a huge variety of models each targetted at a slightly different demographic/niche. They offer phones and tablets with 3", 3.5", 4", 4.3", 4.8", 5", 5.3", 7", 7.7", 8.9", 10.1" screens, some models have cheaper variants featuring only WIFI.

Some might say they are just throwing stuff at the wall and see what sticks, but that is actually a viable strategy when new technologies arise - *if* you have the cash; which Samsung does (Nokia as well btw, at least up until recently). That way they can also experiment with new formats, e.g. like the Galaxy Note, a seemingly way oversized phone (phablet) with stylus that nonetheless became hugely popular especially in Asian markets).

Then on top of that you offer upgrade paths for the newest OS versions for those devices that support it and source code for the devs.

One thing Samsung and Nokia perform comparably though, is the somewhat mediocre presentation events of their new flagship devices (long-winded, unexciting, confusing for both, geeks and plebs).

Samsung is also the company that is pushing Tizen, so they have a contingency plan if their current Android strategy should ever go belly up.

I think this is the kind of vision many people would like to see from Nokia.