Nokia Not Top Company in Finland Anymore

Nokia seems to be striking out in troubled waters as the company no longer holds the top spot of being the most valuable company even in Finland, its home country which has seen Nokia at the top for a long time now. Finnish electric utilities company Fortum recently overtook the popular company at the top of the Helsinki Stock Exchange in terms of market value. As of today, Fortum is worth about 15.8 billion Euros as opposed to second-placed Nokia which is valued at 14.8 billion Euros.

Given that Nokia was valued at 110 billion Euros at the end of 2007 which was 5 years ago, the fact that the brand has plummeted to just 14.8 billion Euros is really a statement as to how Android and Apple devices have affected the market, even in Finland. Last year as most readers will know, Nokia made a decision to reverse their bad luck after a torrential year in the smartphone industry by signing a deal with Microsoft to make Windows Phone its primary operating system.

Despite Nokia deciding to start everything from scratch again, it still suffered a blow of $1.4 billion in operating losses as opposed to a profit of $2.76 billion from the previous year; 2010. Now however, in the global scene, Apple is still the most valuable company in the world despite what jokes are cracked by the currently lowly Finnish based handset maker about them.

Pradeep Chandrasekaran
Categories: Cellphones