The company has had various industries in its 150-year history, originally founded as a pulp mill, and currently focuses on large-scale telecommunications infrastructures, and technology development and licensing.[8] Nokia is also a major contributor to the mobile telephony industry, having assisted in development of the GSM and LTE standards, and was, for a period, the largest vendor of mobile phones in the world. Nokia's dominance also extended into the smartphone industry through its Symbian platform, but was soon overshadowed by competitors. Nokia eventually entered into a pact with Microsoft in 2011 to exclusively use its Windows Phone platform on future smartphones. Its mobile phone business was eventually bought by Microsoft in an overall deal totaling €5.44 billion (US $7.17 billion).[9][10] 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 April 25, 2014.[11]
Since the sale of its mobile phone business, Nokia began to focus more extensively on its telecommunications infrastructure business, marked by the divestiture of its Here Maps division, its foray in virtual reality, and the acquisitions of French telecommunications company Alcatel-Lucent and digital health maker Withings in 2016