yes updating will solve the problem.
if u cannot wait for the update then try the soft reset method.
1) Backup all your Data with Nokia PC Suite.
2)Disconnect from the pc
3)Press the on/off switch briefly and u will get a menu, scroll down to "Remove E:Memory card" click on it and wait, then you will be prompted to remove the memory card, remove it.
4) Open the dial pad and type *#7370# , your phone will do a software reset and restart.
5) The default phone lock code is 12345, enter it if the phone promts you.
6) Enter ur location , data /time etc.....
7) Switch off the phone and reinsert the memory card.
8) Switch on the phone , wait till the phone initialises the memory card and then try installing the programs again.
NB: Warning: There is a chance that you may loose ur DRM licences and all ur pre loaded songs may get locked. so do the above at your own risk.