Fredrik Idestam established a paper mill in 1865 that would eventually become Nokia Corporation. Through mergers and acquisitions, Nokia expanded into rubber, cables, electronics, and telecommunications. In 1979, Nokia entered the mobile phone market through its joint venture Mobira Oy. Nokia launched its first GSM phone in 1992 and became the world's largest mobile phone manufacturer by 1998. However, competition from Apple and other smartphone manufacturers eroded Nokia's market dominance in the late 2000s.