It just goes to show how important it is for companies to anticipate and preact to emerging trends. Nokia always made great phones, robust, really easy to use, with lots of native features. No need for all this downloading apps malarkey, the phone did most things you wanted it to straight out of the box. And battery life was fantastic - my Symbian smartphone would last a week on a charge, but my newer Windows Phone rarely makes it to 3 days.
So where did it go wrong? Nokia failed to see the way the market was going. People wanted fun more than functional. The Symbian interface with its single touch was a bit clunky, not as smooth or as slick as the iPhone, which was the new cool kid in town. The app store was not bad (and a lot better than the paltry offering now), but not as extensive as others. And they never caught up.
In any context, dominance is temporary and will always be overthrown. But in tech industries it can happen a lot quicker!