When Nokia released the 5300 it was more than a year after the mid-range priced W550i came out.
The W550i was a swivel phone while the 5300 was a slider.
You will notice the similarity in their size and their color.
The W550i is an orange music player while the 5300 was a reddish-orange music player too
The W550i came with an internal 256MB storage memory while the 5300 came with a 512MB MicroSD card.
The screen sizes were almost the same.
For connectivity, both phones have the same array of interfaces.
IrDA - quite rare for Nokia's during the 5300's time of release
I have attached a PDF that contains the details of the two phones.