The legendary brand Nokia will disappear from the smartphone market: what happened to the icon of the mobile world.

The legendary brand Nokia will exit the smartphone market by 2026

According to reports from Bild, HMD Global, the company that produces smartphones under the Nokia brand, is losing exclusive rights. The Nokia Corporation does not plan to grant the brand to other companies starting in 2026, which means Nokia may potentially disappear from the smartphone market.

Why Nokia will stop selling smartphones in 2026

Previously, Nokia was a leading manufacturer of mobile phones but lost its leadership due to the emergence of the iPhone and Android. After Microsoft's acquisition of the division in 2014, phones were released under the 'Microsoft Lumia' brand. The brand returned thanks to HMD Global, but according to new reports, exclusive rights will expire in 2026, and Nokia may not transfer them to other companies.

Financially, the next few years do not promise Nokia a good future. After an unstable start to the year, the company expects improvements, but the weakening dollar is impacting their financial performance. In the second quarter, Nokia's operating profit decreased by 81%, while revenue only grew by 2%, which does not meet expectations.

Smartphones from Nokia can still be found on HMD's website, but they may be discontinued or taken off the market. Nokia once symbolized reliability and was a market leader, but now faces significant challenges regarding the future of its business.