Nokia’s Downfall and What to Learn From It

Abstract

Stories of success or failure can be seen everywhere all around the world some establishments attain higher positions with a productive influence and some companies fails to achieve what they think they will and become looser. Same thing goes on Nokia Company which become one of the leading global company and was on its peak from 1990 to 2000 but later they face many crises and fails to be in the race of the top mobile phone in late 2000 to 2010 (Laamanen,2016). So Nokia that is a Finnish international corporate giant that deals with telecommunication, consumer electronics, and information technology. Fredrik Idestam Leo Mechelin Eduard Polon founded it on the 12th of May 1865 in Tampere, Grand Duchy of Finland, and Russian Empire. Nokia having its headquarters in Espoo, Finland. It’s a private limited company having registered on New York and Helsinki stock exchange. Mission of Nokia mobile was Connecting People which means that Nokia Company wants to connect people with one another through phone and internet which means it helps people to communicate with each other for work purpose or the people who are far away from their families they easily connect with their families. Whereas their vision was to transform big planet into small village.