Even if Nokia isn't looking at your information, they're breaking the trust model of SSL even more than it already is. Since they would have to terminate SSL at

Even if Nokia isn't looking at your information, they're breaking the trust model of SSL even more than it already is. Since they would have to terminate SSL at their proxy server, you lose control of what certificate authorities you trust, and what certificates you trust. Not having one of these phones, I can't speak to the specifics, but it takes a lot of the ability for the user to verify the authenticity of the https connection.