In 2011, when Nokia announced a deal with Microsoft, that eventually led to the sale of their mobile handset business, it was widely thought that the Finnish tech company were on the wane, primarily owing to their failure to compete with the major smartphone players of Apple, Samsung, HTC et al.

However, while divesting of their handset business, Nokia retained some of their patents for their technology, and since then they have been innovating in a number of exciting areas, notably wearable tech and virtual reality. It is expected that both of these markets will be lucrative in the coming years, with a number of high profile companies becoming involved in these areas (as I noted in a previous article, HTC are rumoured to be entering the VR market).

It shows that the best businesses continuously develop and change, adapting to the needs of their consumers.

“after Microsoft bought Nokia’s mobile division, and then swiftly gave up on making phones, it seemed like that was it for Nokia as a consumer brand. But what Microsoft left behind in Finland, a country which once oozed with pride over Nokia’s success, was a bevy of bright engineers and strategists. Nokia isn’t going away, and it surely once again deserves the tech world’s respect and attention.”

http://www.bbc.co.uk/news/technology-36496331