Nokia has applied for a delisting from the Frankfurt Stock Exchange . It's widely believed that the move was spurred by falling shares values. Facing a volatile and changing cellphone market, Nokia has seen its position falter in recent years. Let's take a look. Founded a century ago, Nokia has been a fixture of the Helsinki Stock Exchange since 1915. It credited with spurring a global revolution in the mobile communications industry. More than 1.3 billion customers use Nokia's cellphones at its peak time, with a market share matching Sumsang, LG, and Motorola combined. However, with the development and spread of 3G services, the cellphone market has changed from more traditional designs to modern smartphones. Nokia has been facing hard times, as non-smartphones are its traditional stronghold. Many of the company's new products flopped, and it still lacks a defining smartphone product to rival the likes of Apple's iPhone. It's also seen its market share dwindle steadily as competitors Sumsung, Google and Blackberry continue to rise. In 2000, its market value reached $250 billion, first place among all the European companies. But now, it is only 1/10 what it was a decade ago. Facing fierce competition, Nokia has realized that a new revolution is necessary for its survival. At the end of 2010, Nokia announced the replacement of its top executives and an alliance with Microsoft. It remains to be seen if the Nokia brand, still has a future in the increasingly competitive mobile phone market.