What happened January 1992 AD

Vuorilehto quit in January 1992 and was replaced by Jorma Ollila, who had been the head of the mobile phone business from 1990 and advised against selling that division. Ollila decided to turn Nokia into a 'telecom-oriented' company, and he eventually got rid of divisions like the power business. This strategy proved to be very successful and the company grew rapidly in the following years. Nokia's operating profit went from negative in 1991 to $1 billion in 1995 and almost $4 billion by 1999.

A new UN-sponsored ceasefire, the fifteenth in just six months, was agreed on January 2, 1992, and came into force the next day.

On 9 January 1992, the Bosnian Serbs proclaimed the "Republic of the Serbian People in Bosnia-Herzegovina" (SR BiH, later Republika Srpska), but did not officially declare independence.

The Arbitration Commission of the Peace Conference on Yugoslavia in its 11 January 1992 Opinion No. 4 on Bosnia and Herzegovina stated that the independence of Bosnia and Herzegovina should not be recognised because the country had not yet held a referendum on independence.

This so-called Sarajevo Agreement became a lasting ceasefire. Croatia was officially recognized by the European Community on January 15, 1992.

For Slovenia, the war marked the decisive defense of its independence in regard to Yugoslavia. It was officially recognised by all European Community member states on 15 January 1992.

The Soviet Union falls apart.