Nokia: The Journey.
Nokia’s journey spans from having the most significant global market share in mobile phones to nearly becoming bankrupt.
The early memory of Nokia that many might remember is their logo of holding hands or their iconic ringtone. Nokia might be yours or their family member’s first mobile phone for many. The company was not related to technology; first, it was founded in Finland as a pulp mill by Fredrik Idestam in 1865. The company was not named Nokia yet.
In the year 1871, the company was named Nokia Ab. In the year 1918, it was acquired by the Finnish Rubber Works. Later Finnish Cable Works was acquired. The three companies were owned jointly, but they worked independently. In 1967, they formed Nokia Corporation, which focused on various products ranging from paper to electronics.
Rise
During the end of the 20th century, they entered the telephone company. In 1979, the company and Scandinavian color TV manufacturer Salora created a radiotelephone company (Mobira Oy).
Nokia also launched the world’s first international cellular system called the Nordic Mobile Telephone network. Calls could be made between Sweden, Denmark, Norway and Finland. The company then launched the world’s first car phone known as Mobira Senator.
In 1984, Nokia launched Mobira Talkman, the first transportable phone used in and out of cars.
In 1987, the world’s first handheld mobile telephone, the Mobira Cityman 900, was launched. Even though it was expensive, it was still had an enormous demand.
The following year was challenging because the demand suddenly declined, and there was even price competition. In 1991, the first handheld phone, Nokia 1011, was launched.
In the later year’s company launched the 2100 series. This product was successful as it sold 20 million handsets worldwide.
Nokia’s 61000 series succeeded and sold 41 million cellular phones. The company also went ahead of Motorola and became the world’s top cellular phone maker in that year. Their new launches added more games, different ringtones, picture messages options, color variants, and increased talk time.
With the rise of wireless and internet technologies in the next few years, the company also codified their products. They produced not only multimedia handsets but also low-end devices. They launched phones with build-in cameras, had color displays, 3G phones, video recorder. Their budget-friendly phone had a huge demand, making them the bestselling electronic product.
Nokia’s ups and downs.
The emergence of the smartphone was also one of the biggest reasons for the downfall of Nokia. The company since 2001 started to a slowdown in becoming the top phone maker. In 2007, to take back 46 million faulty cell phone batteries. With the launch of the iPhone, what a phone can do also changed with it. Nokia market share decreased in the next three years.
In 2009 Nokia had to lay off 1700 employees worldwide. The company accepted that they were slow to adapt to the changes in the market. A few reasons for the falls were that they only focused on the physical device while software was not given enough attention. Hence it was easy for Android and iOS to take over the market. They also did change their operating system, which another competitor did.
They did it in 2011 when they partnered with Microsoft, which did not benefit them much. In 2011, Lumia 800 and Lumia 710 smartphones were launched. The product demand in the market was more than expected, but employees were still laid off. During the same period, the oldest factory was closed, and they also changed the manufacturing to Asia. The new windows phone did not get much demand. While some phones received acceptance but the company never profited much.
In 2014 Nokia was sold to Microsoft, brought back in 2016 by HMD. The company now focuses on the customers’ wants and needs and works on their gaps.
Lateness to adapt to the new change and demand cost the company a lot. While they focused on specific aspects of mobile phones, they did not pay enough attention to the others. This hampered their market shares and put them behind their competitors.
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