Nokia Essay

3712 WordsApr 3, 201515 Pages
Nokia is one of the well-known brands in mobile market. Nokia started its journey as a company back in 1871 when Fredrik Idestam opened a second mill on banks of river Nokianvirta from where it got its name “NOKIA”. When we see history of Nokia we will observe how it grew from being Paper Mill Company in 1871 to become a world leader in 1998, to loosing 40% of its market share by 2012 and by April 2014 Microsoft bought it for $7.2 billion. The journey of Nokia is interesting as well as disheartening. It is as shown below: Although Nokia made profit from the sell when Microsoft bought it for $US 7.2 billion in April 2014 the reputation and brand value it had once is long gone. Unless, Microsoft come up with some disruptive innovation at fast rate it is hard Nokia to survive the tide of competition in the mobile market, particularly in smartphone section. Trends and external environment We are heading to the era of the proliferation of information, the information updated in hours, minutes, even seconds. People want to be exposed to all kinds of information that can make them never out of touch. Mobile phone is not merely a phone, it become a carrier which can meet the every single need of consumers in their daily lives and to make their lives easy. Therefore, people no longer want a mobile phone; they desire a smart phone with an operating system which can be added numerous applications that can fit all their needs in one smartphone. Nokia was slow to response this trend The rapid expansion of the competitors had a catastrophic effect on Nokia. Apple's iPhone burst onto the scene on 2007, which making every other phone on the planet obsolete and marked a new epoch by putting minicomputer to consumers’ hands. Blackberry known as email phone with the great secure and encrypted system, focused on business sector and became indispensable tool for

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