Founded in the year 1865, Nokia is a popular Finnish multinational company centered on communications and information technology, and has its headquarters in Espoo, Uusimaa, in Finland. Nokia has always been a top contender reporting impressive sales and share values annually ever since it heralded production of mobile phones. Its Symbian operated mobile phones were a huge hit in the market. However, in the year 2010, Nokia partnered with Microsoft under the reign of its new CEO Stephen Elop, and this saw a mutual agreement between Microsoft and Nokia to focus on smartphones that are fully powered by Windows, instead of Symbian powered devices, including the very popular Nokia N9, which had managed to garner rave reviews worldwide.
While this move initially saw good success and reviews, soon Nokia’s sales started falling drastically, one of the reasons of it being people weren’t convinced of buying its Symbian-powered phones anymore, believing that Nokia’s prime focus had long shifted to only their Windows powered handsets.
The first Windows phone that Nokia released in the year 2011 was the Lumia 800. This was followed by more upgraded releases of the Lumia series, however, the move didn’t restore Nokia’s lost market value and by the mid of the year 2012, Nokia had almost become bankrupt.
With the later announcement of Lumia 920 and also low-budget Asha series, Nokia did manage to come back in the game, but this was no way going to cover up for the extensive financial losses it suffered and hence, in April 2014, the mobiles and devices division of Nokia was sold to Microsoft. In 2016, Nokia made an announcement of working with HMD Global and producing Nokia-branded new smartphones. These devices are all set to release by 2017.
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