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Nokia's decline amid smartphone rise
Nokia, which controlled 40% of the mobile phone market with a value exceeding $290 billion, was one of the world's largest companies in telecommunications technology until the late 2000s. However, it failed to keep up with the shift to smartphones following the launch of the iPhone in 2007, relying instead on the Symbian operating system, which faced technical and regulatory challenges. These difficulties led to a decline in the company's market share and a drop in its valuations, prompting Nokia to sell its phone division to Microsoft in 2014 and shift its strategy to focus on telecommunications networks and technological infrastructure. Today, Nokia is one of the leading providers of 4G and 5G network equipment, benefiting from new technological advancements in fields such as artificial intelligence and cloud computing.
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