Nokia a Fading Brand

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Nokia once occupied over 60 percent of sales worldwide in the market. It has since dropped by over 30 percent in this area and since the launch of the first iPhone by Apple five years ago, have lost 90 percent of share price. Nowadays, its 15 years dominant position is totally taken placed by Apple and Samsung, in other words, the IOS and Android system are preferable to be chosen by customers rather than the old and past Symbian. Millward Brown, the world leading research agency specialized in Advertising, marketing and Brand equity research, has been conducting and releasing annual reports highlighting the top 100 brands.(Millward Brown Official Website, 2012) Their reports allow for a clear insight into the rankings of brands in the current market and their brand value loss or gain of brands in contrast to other brands and data collected from previous years. The value of a brand – and thus its equity – is ultimately derived in the marketplace from the words and actions of consumers ( Keller,2001). Since Millward Brown began releasing the annual Top 100 Brandz report, Nokia’s position has dropped from a 8 out of a 100 in 2008 with a rise in 38% in brand value change from the previous year to falling into 13th position and losing 20% of brand value in 2009.( Millward Brown, 2008-2009 Reports) In 2010, Nokia slipped drastically in the ranks into 43rd position with a loss of 58% market share from the previous year and continued its plunge in 2011 by ranking 83rd, a further 28% fall in brand value from the year before.( Millward Brown 2010-2011 Reports) In 2012, Nokia, once the leading expert in mobile phones and inventor of the cell phone, did not make the Millward Brown Top 100 Brandz for that year.( Millward Brown 2012 Report) Nokia has now officially joined the ever growing group of fading brands worldwide. Although Nokia has suffered greatly as a brand in the

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