What happened.?
In the world of new technology of the present era just take a look back at your memory 20 years ago when there was no smartphone but a bar phone with a small screen on top and numbers on the bottom. Now whatever you picture is probably made by Nokia. Yes, that Nokia was the bestselling mobile phone company in the world. If you are old enough in this modern era, then you have owned a Nokia phone at some point in your life it may have been your first ever mobile. The bestselling mobile of all time was made by Nokia to this very day yet today where are they now.? Nowhere to be seen.
1865 the year when Nokia started its journey from a small town in Finland named Nokia to lead the mobile phone revolution. Nokia creation 1100 and 1100 are still the bestselling mobile phones in the world, respectively both have sold over 250 million phones. with a very brisk speed, it grew to have one of the most noticeable and valuable brands in the world. While its acceleration to the top was fast, so was its fall, culminating in the sale of its mobile phone division to Microsoft in 2013. At its peak, the company commended a global market share in the mobile phone of over 40 percent. Between the years from 1996 to 2000, Nokia Mobile Phones (NMP) grew its manpower by 150 percent to 27,353 people between 1996 and 2000, while sales climbed by 503 percent. This fast development came at a very big price. Managers at Nokia's key development centers were under growing short-term work pressure and were helpless to devote time and resources to innovation as a result. As time passes by, in 2010 when android steps its foot in the world Nokia was still in business and they may have made some good smart phones but it was too late. Nokia kept on making smartphones but with Symbian OS while the other companies invested their interest in Android because of this attempt Nokia became a sitting duck to growing competitive markets. The limitations of Symbian had become painfully obvious and it was clear Nokia has missed the shift towards apps pioneered by Apple and Android smartphones. Both Samsung and Apple were capable of a great game plan that Nokia was unable to obtain. While Apple and Samsung have collaborated to produce a flagship product. Each new year these companies come up with new and attractive phones with new features in the market and they also compete with each other. Consumers of these brands as well as the customers of the product keep an eye on the new release as it approaches the market. The release of new smartphones still gets public excitement. But in the case of Nokia, such a scenario wasn’t created which resulted in its collapse.
Nokia’s downfall cannot be explained in one straightforward answer. Management choices, inefficient organizational structures, increasing bureaucracy, and deep internal rivalries all played a role in Nokia failing to recognize the change from product-based to platform-based competitiveness.