Nokia Loses The Top Spot In Finland

Nokia has once been the leader of the mobile industry and a company that raked in 110 billion euros. However, the luck and value of the company has plummeted fast ever since Apple’s iOS devices and Android platform have bagged huge successes. The company has tried hard to get back in the game but so far, this doesn’t seem to be happening. In wake of all this, Nokia has lost the top spot in Finland and is no longer the most valuable company in the country.

Nokia recently did away with a 1000 jobs in Finland, the home country of the company. That is just the tip of how things are going at Nokia. The company’s value at the Helsinki Stock Exchange has gone from being 110 million euros back in 2007 to 14.8 billion euros now. As a result, Nokia has lost its top spot as the most valuable company of Finland. It has been replaced by the electric utilities company, Fortum, which currently has a value of 15.8 billion euros.

Nokia has been hoping that with the launch of its Lumia smartphones, things will change and the company may be able to penetrate into the smartphone market. However, so far, this doesn’t seem to be the case. Apple and Android have continued their onslaught in the smartphone market and while Apple’s iPhone is currently the best-selling smartphone in US, Apple is all set to release yet another device in the iPhone line-up this year. This means that Nokia has very little space to squeeze into, and every passing day is making is all the more difficult for the Finnish handset maker.

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