Nokia assured its costumers that it will regain the popularity that was lost for a while and was going to give a tough blow to its competitors with its efficient performance. The Chief Executive, Stephen Elop, revealed at a telecom fair at Singapore that with the help of Finnish company, Nokia was repairing its working and thereby launched its new Nokia N9 so as to authenticate its declaration.

The rates of the shares of Nokia had decreased in the market and was facing a tough competition from Apple's iPhone, Asian rivals led by Samsung, and Canada's Research in Motion, maker of the Blackberry. The company announced that it was going to implement Microsoft’s Window Phone 7 operating system in the smartphone manufactured by them so as to give a fight to its rivals.

The reason of the decrease in the prices of its shares was believed to be the introduction of sleek handsets from other electronic gadget manufacturers which offered a good range of applications and games. As per the predictions of Nomura Equity Research, all the mobile phone companies were going to decrease from 25.1% to 19.9%. The smartphone sector was going was going to witness a decrease from 25.5% to 13.1%. Moreover, companies like Samsung and Apple, Taiwan's HTC were all set to compete with Nokia.