Nokia’s history is a story of rising to the top, falling to near zero, and then reinventing itself in a completely new form.
At one point, the company controlled nearly 40% of the global mobile market, but today it has transformed into a giant focused on 5G networks and telecom infrastructure instead of smartphones.
Beginning: Nokia was founded in 1865 in Finland as a paper mill.
Global Leader: In 1998, Nokia became the world’s largest mobile phone manufacturer.
Market Share: It held nearly 50% share of the global smartphone market at its peak.
Sales: In 2007, Nokia sold approximately 437 million handsets.
Best-Seller: The Nokia 1100 became the best-selling phone in history, with over 250 million units sold.
Nokia’s decline began in 2007 with the launch of the Apple iPhone and in 2008 with the rise of Android.
Software Failure: Nokia’s Symbian OS failed to compete in the new touchscreen era and app-driven ecosystem.
Wrong Partnership: Instead of adopting Android, Nokia partnered with Microsoft in 2011 to use Windows Phone, which is widely considered a major mistake.
Market Collapse: Nokia’s market share dropped from around 50% in 2007 to below 5% by 2013.
Exit: Between 2013 and 2014, Nokia sold its phone business to Microsoft for €5.44 billion.
Today, Nokia is no longer just a phone manufacturer; it is focused on B2B technology and 5G infrastructure.
Return to Profit: By the end of 2024, Nokia made a strong comeback, reporting a quarterly profit of €813 million.
AI and 6G: The company is now working on AI-powered networks and preparing for 6G technology by 2026.
End of HMD Partnership: In 2026, Nokia’s brand licensing agreement with HMD Global is ending, and the company is looking for new partners.
Investor Sentiment: Investors now view Nokia as a “value stock,” and its shares have recently gained momentum due to AI infrastructure growth.
In late March and early April 2026, Nokia signed a multi-year 5G RAN deal with UK operator Virgin Media O2 to modernize its network.
AI & Data Centers: Nokia has been named a “Leader and Outperformer” in the GigaOm Radar Report 2026 for data center switching for the fifth consecutive year.
Partnership with Nvidia: Nokia and Nvidia are collaborating on AI-RAN (Artificial Intelligence Radio Access Networks), which will form the foundation of future 6G networks.
New Chairman: Timo Ihamuotila has been appointed as the new Chairman, replacing Sari Baldauf.
New Appointments: Meredith Whittaker, President of Signal, has been appointed as a new member of Nokia’s board of directors.