Photographs: Lehtikuva Lehtikuva/Reuters
Nokia was the world's largest vendor of mobile-phones from 1998 to 2012. However, over the past five years it has suffered declining market share as a result of the growing use of smartphones from other vendors, principally the Apple iPhone and devices running on Google's Android operating system.
As a result, its share price has fallen from a high of $40 in 2007 to under $3 in 2012.
Let's take a look at the rise and fall of the giant.
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Rise and fall of a telecom giant
Photographs: Michaela Rehle/Reuters
Year: 1871
Founded by mining engineer Fredrik Idestam as groundwood pulp mill - Nokia Company - to manufacture paper.
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Rise and fall of a telecom giant
Photographs: Bob Strong/Reuters
Year: 1900-1970
Entered electricity generation, came close to bankruptcy only to be taken over and merged with two other companies to become Nokia; enters telecom by making radio telephones for army.
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Rise and fall of a telecom giant
Photographs: Bob Strong/Reuters
Year: 1970-80
Starts making telephone exchanges.
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Rise and fall of a telecom giant
Photographs: Tony Gentile/Reuters
Year: 1982
Launches first car phone, Mobira Senator, and a portable car phone called Mobira Talkman two years later.
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Rise and fall of a telecom giant
Photographs: Lucas Jackson/Reuters
Year: 1987
Launches world's first mobile phone, Mobira Cityman.
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Rise and fall of a telecom giant
Photographs: Brendan McDermid/Reuters
Year: 1987-1991
Works on GSM platform and delivers first GSM network to a Finnish operator.
i) Nokia's net cash fell to 3.6 billion euros in Q3 from 4.2 billion euros at the end of June
ii) Nokia's stock price has fallen 33 per cent this year
The company's net loss quadrupled to 1.41 billion euros in the second quarter.
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Rise and fall of a telecom giant
Photographs: Eduardo Munoz/Reuters
Year: 1992-2002
Launches first GSM mobile phone, Nokia 1011. Launches world's first 3G phone, which allows web browsing.
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Rise and fall of a telecom giant
Photographs: Keith Bedford/Reuters
Year: 2007
Apple enters market with iPhone. Nokia starts losing its way with several new entrants, including HTC, launching smartphones.
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Rise and fall of a telecom giant
Photographs: Eduardo Munoz/Reuters
Year: 2009
Nokia posts if first quarterly loss in a decade in Oct; Apple iPhone and Android devices catch up.
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Rise and fall of a telecom giant
Photographs: Lucas Jackson/Reuters
Year: 2010-11
Nokia keeps losing market share with Apple becoming world's biggest smartphone maker in 2011; CEO Stephen Elop, whom Nokia hired from Microsoft, begins restructuring and cuts jobs; Nokia announces partnership with MS and launches first Windows smartphone Lumia 800.
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Rise and fall of a telecom giant
Photographs: Lucas Jackson/Reuters
Year: 2012
Nokia cuts more jobs even as Samsung becomes the world's biggest handset maker; launches Windows 8 smartphone Lumia 920.
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