This price is stay high for at least few days. The dealers are going to charge incredibly to enjoy enormous profit from buyers who want to try this monster phone as soon as it releases.
I happened to contact a dealer in Mumbai and he says he is already receiving queries regarding this phone. He confirmed the news that dealers might want to do chance pe danceon this opportunity. However, the price might slope down in in a month or so, that is, get back to its original price tag of $699.
Some of Nokia N97s features:
Tri-band HSDPA/quad-band GSM
Sliding QWERTY keypad and touch screen display
3.5-inch TFT (16:9 widescreen); 640 x 360 pixels
32GB onboard memory + micros card slot
Series60 5th Edition
5-megapixel camera with Carl Zeiss Tessar optics
MPEG-4 VGA video recording at 30fps
Multiple music, video and image formats supported
802.11b/g; USB; Bluetooth with A2DP; GPS with A-GPS
3.5mm audio jack
117.2 x 55.3 x 15.9mm
You might want to check out the N97 Product Demo.