Not too long ago, Research In Motion (RIMM), Nokia (NOK) and Motorola (MOT) each enjoyed the sort of market-dominating mojo that Apple (AAPL) and Google (GOOG) boast today. These companies were the titans of wireless and many investors pinned their hopes for the industry on the promise of these wireless companies. My how times change, especially in the highly competitive wireless handset business.

Over the past year, the shares of these companies have dropped significantly. RIMM is down by more than 40%, NOK has fallen about 35% and shares of MOT trade at the same price as one year ago.

True, RIM's BlackBerry remains dominant in the enterprise market, but its consumer business finds itself under assault on two fronts as more folks flock to iPhones and smartphones running Google's Android operating system.



Nokia, for its part, remains the world's biggest handset maker with enviable penetration in higher growth emerging markets. Whether the stock is a deep value -- or a dangerous value trap -- remains to be seen.

Motorola, long searching for a hit after the Razr craze, might just have found a savior with Droid smartphones. On the other hand, there's plenty of Android competition -- and shares look like a pretty speculative bet to boot.

Investors are asking whether these companies can regain lost ground and if their stocks could now be good values. In this segment of Face-Off on Stocks, DailyFinance's Dan Burrows and Nikhil Hutheesing give the bull and bear cases for RIM, Nokia and Motorola.