02/02/2011
Nokia's share price fell from a high of $40 in late 2007 to under $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 mobile operating system with Microsoft's Windows Phone operating system in all Nokia smartphones.
Nokia's market share declined as a result of the growing use of touchscreen smartphones, principally the iPhone, by Apple, and devices running on Android from Google.
Following the replacement of the Symbian system, Nokia's smartphone sales figures, which had previously increased, collapsed dramatically. From the beginning of 2011, Nokia fell from its position as the world's largest smartphone vendor to the tenth largest (assumed).