How Nokia Got Knocked Out Of The Modern-Day Smartphone Race
📱 Nokia vs. Apple
By 2010, new and advanced smartphones were flooding the markets, but Nokia was still doing it the old-school way. Nokia launched its ‘iPhone Killer’ but it could not live up to its name. The brand struggled to create an operating system that was user-friendly and had features just like Apple’s.
🕗 Reluctance To Change
Android was getting popular and brands like HTC and Samsung were adapting to it. However, Nokia never considered Android as an advancement and stuck to its old OS for way too long. Nokia was skeptical about touch-screen technology and believed people would still prefer QWERTY phones. The company launched the Symbian OS but it fell short in front of Android and iOS.
📉 Over-Confidence In Their Brand Image
Due to inferior product quality, customers flocked to Nokia’s competitors. As a result, Nokia’s sales saw a free fall. The company’s market capitalisation fell by over 90% in just five years starting in 2007.
⚰️ Last Nail In The Coffin
After multiple failures, Microsoft threw Nokia a life jacket by offering to buy the company. The life jacket failed to do its job as the deal was a huge blunder and did no good to either party. After the acquisition, Nokia phones came with a unique Windows operating system. However, it failed to match the features of Samsung and Apple phones. Bad strategic decisions and a reluctance to adapt to new technology brought the company down and led to its dominance’s obsolescence.