Apple killed two biggest Finnish industries

In the early 00s, Finland's two biggest industries were
paper manufacturing and cell phones, led by the then-
dominant Nokia. A decade later, both industries are in
trouble — and as the country's prime minister suggested
in a recent interview, Apple might be to blame in both
cases. "One could say that the iPhone killed Nokia and
the iPad killed the Finnish paper industry, but we'll make
a comeback," Prime Minister Alexander Stubb told CNBC
on Monday. "We just have to keep at it."
On Friday, Standard & Poors downgraded Finland's
sovereign debt from AAA to AA+, indicating the
country's industrial base may not be as stable as many
had assumed. In large part, the downgrade was due to
new sanctions against neighboring Russia, as well as
Finland's aging population base, but the decline of two
of the country's central industries certainly did not help.
Despite a history of innovation, Nokia has struggled to
maintain its market position in the face of the iPhone,
facing dwindling US sales before being acquired by
Microsoft earlier this year for $7.2 billion.
Source : The Verge