Nokia started producing cell phones in 1992 when it released the first GSM phone. It remained the market leader until the mid-2000s when it was slow to embrace smartphones and lost share to competitors like Apple. While Nokia focused on its partnership with Microsoft, Android and iPhone grew rapidly. This caused Nokia's profits and market share to decline sharply. Today Nokia is still in the global market but focuses on feature phones with low margins, having lost its position as the leading smartphone maker. Its future success will depend on adapting quickly to changes and avoiding the mistakes of the past that led to its decline.