Rise and fall of a telecom giant

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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Year: 1871

Founded by mining engineer Fredrik Idestam as groundwood pulp mill - Nokia Company - to manufacture paper.

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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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Year: 1970-80

Starts making telephone exchanges.

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Year: 1982

Launches first car phone, Mobira Senator, and a portable car phone called Mobira Talkman two years later.

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Year: 1987

Launches world's first mobile phone, Mobira Cityman.

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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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Year: 1992-2002

Launches first GSM mobile phone, Nokia 1011. Launches world's first 3G phone, which allows web browsing.

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Year: 2007

Apple enters market with iPhone. Nokia starts losing its way with several new entrants, including HTC, launching smartphones.

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Year: 2009

Nokia posts if first quarterly loss in a decade in Oct; Apple iPhone and Android devices catch up.

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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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Year: 2012

Nokia cuts more jobs even as Samsung becomes the world's biggest handset maker; launches Windows 8 smartphone Lumia 920.