I have had the Nokia 2626 for a few months now and it is a good, smart and reliable phone with many useful features like alarm, calendar, to-do list, notes, calculator, voice-recorder, audio messaging and FM radio.
The SIM card can store only one telephone number against each name whereas the phone memory can store more numbers and additional info like email address, postal address, company name and birthday.
You can even record the conversation during a call for a short period of time, useful when you are unable to note down some info that the other person is giving you( I have never used this feature so far, so I cannot comment on the quality of the recording). The FM radio reception is loud and clear and can be switched on using a short-cut key. The battery gives good stand-by time.
In a nutshell, this is truly a value-for-money, low-end mobile phone which gives trouble-free performance.
Aug. 2008, Update: Last month the speaker of the FM radio in my phone developed a problem. I had to leave it at the service centre and I got it back after about 20 days! Fortunately it was within the warranty period so I did not pay anything.