Nokia owned a significant slice of late stage pre internet telephony infrastructure level equipment, bridged over to the emerging mobile world and .. kinda missed the boat when Apple happend in with iPhone and then Android's emergence killed them.
A lot of people loved their handsets. Just not enough in any single market to make up for some bad decisions.
A similar fate: I wonder if the myriad of vendors who glued to the Japanese market regretted it, as that model shrank as internet rose?