There are several reasons why Nokia, once a dominant player in the global mobile phone market, struggled in the face of increasing competition and eventually failed to remain a major player in the industry.
.jpeg "Sad Failure with Nokia -Abdullah Mahmood")
One major reason was that Nokia failed to adapt to the shift from feature phones to smartphones. While Nokia was a leader in the feature phone market, it was slow to enter the smartphone market and did not have a strong presence in this rapidly growing and competitive segment. As a result, it lost market share to companies like Apple and Samsung, which were able to offer more advanced and popular smartphone models.
Another reason for Nokia's decline was its reliance on its own proprietary technology, such as Symbian, for its mobile devices. While this had been a strength for Nokia in the past, as the market evolved and competitors adopted more widely used platforms like Android and iOS, Nokia struggled to keep up and its devices became less appealing to consumers.
In addition, Nokia faced intense price competition from other manufacturers, particularly in emerging markets where it had a strong presence. This led to a decline in profits and made it more difficult for the company to invest in research and development and bring new, innovative products to market.
Finally, Nokia's management also made some strategic decisions that contributed to its decline, such as its acquisition of digital mapping company Navteq and its foray into the Internet services market, which did not yield the expected returns.
Overall, Nokia's failure was the result of a combination of internal and external factors, including its inability to adapt to the changing market, its reliance on proprietary technology, intense price competition, and strategic missteps.