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Fortune magazine has updated the Fortune 500 list of the largest companies in the world. In the most valuable brands, Nokia has managed to better its position since last year, it now stands at 182nd place while last year it stood at 188th place. Now the company is showing some signs of improvement as it stands 6 positions better than the previous year. Nokia has also become one of the fastest growing brands in 2019. The top 10 positions are held by mostly US companies, Amazon stands at No. 1 followed by Google while Apple holds the 3rd place. Samsung is at 5th place and Huawei captures the 10th position.
The Finnish multinational telecommunications, information technology and consumer electronics company Nokia once ruled the mobile phone segment. In 2007, it had a market capitalization of €110 billion which dropped to €6.28 billion in 2012. The main reason behind the fall was selling Microsoft their mobile division for 5 years which resulted in selling Windows phones and the company didn't tapped into the opportunity of manufacturing Android smartphones. After getting the mobile division back from Microsoft, the company shifted from Windows Phone to Android and gradually made its position better. It increased its market capitalization from €6.28 billion to €26.07 billion and it is increasing since then.
The past 10 years can be considered as the fall and recovery period for Nokia, now the company aims to make a roaring comeback this decade. With mid-range Android smartphones and modern redesign of their classics, the company has recovered from their disastrous times and climbed up on the ladder of Fortune Global 500. The company is already the largest in Finland but it still has to battle a lot of competitors on Global level such as Samsung, Apple, Huawei and other Chinese Smartphone manufacturers. This decade has already been declared a decade of 5G, whoever wins in the 5G race will rule the market.
