The company that we choose from the list is Nokia. Over the past 150 years, Nokia has evolved from a riverside paper mill in southwestern Finland to a global telecommunications leader connecting over 1. 3 billion people. During that time, they’ve made rubber boots and car tires. They’ve generated electricity. They’ve even manufactured TVs. Nokia Corporation is a Finnish multinational communications and information technology corporation that is headquartered in Espoo, Finland. Its principal products are mobile telephones and portable IT devices.
It also offers Internet services including applications, games, music, media and messaging, and free-of-charge digital map information and navigation services through its wholly owned subsidiary Navteq. Nokia owns a company named Nokia Solutions and Networks, which provides telecommunications network equipment and services. As of 2012, Nokia employs 101,982 people across 120 countries, conducts sales in more than 150 countries, and reports annual revenues of around €30 billion.
By the fourth quarter of 2012, it was the world’s second-largest mobile phone maker in terms of unit sales (after Samsung), with a global market share of 18. 0%. Now, Nokia only has a 3% market share in smartphones. They lost 40% of their revenue in mobile phones in Q2 2013. Nokia is a public limited-liability company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world’s 274th-largest company measured by 2013 revenues according to the Fortune Global 500. Nokia was the world’s largest vendor of mobile phones from 1998 to 2012.
However, over the past five years its market share declined as a result of the growing use of touchscreen smartphones from other vendors—principally the iPhone, by Apple, and devices running on Android, an operating system created by Google. The corporation’s share price fell from a high of US$40 in late 2007 to under US$2 in mid-2012. In a bid to recover, Nokia announced a strategic partnership with Microsoft in February 2011, leading to the replacement of Symbian with Microsoft’s Windows Phone operating system in all Nokia smartphones.
Following the replacement of the Symbian system, Nokia’s smartphone sales figures, which had previously increased, collapsed dramatically. From the beginning of 2011 until 2013, Nokia fell from its position as the world’s largest smartphone vendor to assume the status of tenth largest. On 2 September 2013, Microsoft announced its intent to purchase Nokia’s mobile phone business unit as part of an overall deal totaling €5. 44 billion (US$7. 17 billion). Stephen Elop, Nokia’s former CEO, and several other executives will join Microsoft as part of the deal.