Nokia applies for delisting in Frankfurt

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Finnish mobile phone giant Nokia has applied for a delisting from the Frankfurt Stock Exchange . Its widely believed that the move was spurred by falling shares values. Facing a volatile and changing cellphone market, Nokia has seen its position falter in recent years.

Founded a century ago, Nokia has been a fixture of the Helsinki Stock Exchange since 1915.

It credited with spurring a global revolution in the mobile communications industry.

More than 1.3 billion customers use Nokias cellphones at its peak time, with a market share matching Sumsang, LG, and Motorola combined.

However, with the development and spread of 3G services, the cellphone market has changed from more traditional designs to modern smartphones.

Nokia has been facing hard times, as non-smartphones are its traditional stronghold.

Many of the companys new products flopped, and it still lacks a defining smartphone product to rival the likes of Apples Iphone.

Its also seen its market share dwindle steadily as competitors Sumsung, Google and Blackberry continue to rise.

According to the latest industry research reports, up to third quarter 2011, Nokias global market share has declined to 27.1%, only 4.8% higher than second-place Sumsung.

Nokias market share in smartphones is only 14%, a share that has decreased 19% year on year. Nokia has also seen poor performance in the capital markets.

In 2000, its market value reached 250 billion dollars, first place among all the European companies. But now, it is only one-tenth what it was a decade ago.

Facing fierce competition, Nokia has realiz! ed that a new revolution is necessary for its survival.

At the end of 2010, Nokia announced the replacement of its top executives and an alliance with Microsoft.

It remains to be seen if the Nokia brand, still has a future in the increasingly competitive mobile phone market.

Editor:Zheng Limin |Source: CNTV.CN



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