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Lumia 800, for which NOKIA incurred a huge loss.

Nokia is a major contributor to the mobile telephony industry, having assisted in development of the GSM and LTE standards. For a period, it was the largest vendor of mobile phones in the world. Nokia's dominance also extended into the smartphone industry through its Symbian platform, but was eventually overshadowed by competitors.
Nokia eventually entered into a pact with Microsoft in 2011 to exclusively use its Windows Phone platform on future smartphones. This was not wise decision for the company which led a huge loss of the company. Its mobile phone business was eventually bought by Microsoft in an overall deal totaling $7.17 billion. Stephen Elop, Nokia's former CEO, and several other executives joined the new Microsoft Mobile subsidiary of Microsoft as part of the deal, which was completed on 25 April 2014.
Nokia's first Windows Phone flagship was the Lumia 800, which arrived in November 2011. The falling sales in 2011, which were not being improved too much with the Lumia line in 2012, led to consecutive quarters of huge losses. By mid-2012, with the company's stock price falling below $2, Nokia almost became bankrupt.
With the change of time, company had to update its product, policy, and strategy. It was no doubt, in terms of quality, Nokia was the best in the market. But due to pact with Microsoft, Nokia produced Windows phone when android phone was in demand. There were many free user friendly apps were available in android phone where there were limitations in Windows phone.
The Lumia 920 was announced in September 2012, which was seen by the press as the first high-end Windows Phone that could challenge rivals, due to its advanced feature set. Although Nokia's smartphone market share recovered in 2013, it was still not enough to improve the dire financial situation. The company had already been making huge losses for two years, and in September 2013 announced the sale of its mobile and devices division to Microsoft. The sale was positive for Nokia to stop further disastrous financial figures, and was also good for Microsoft's CEO Steve Ballmer, who wanted Microsoft to produce more hardware and turn it into a 'devices and services' company. The sale was completed in April 2014, with Microsoft Mobile becoming the successor to Nokia's mobile devices division.

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