INTRODUCTION
Nokia is a Finnish communications and information technology multinational corporation that is headquartered in Espoo, Finland. Its Nokia Solutions and Networks company provides telecommunications network equipment and services, while Internet services, including applications, games, music, media and messaging, and free-of-charge digital map information and navigation services, are delivered through its wholly owned subsidiary Navteq.
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 3.2% 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 touch screen 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...