In the early days of its success, Nokia emerged as one of the most successful mobile phone manufacturers. Nokia was the world's best-selling mobile phone brand in October 1998. By 2007, it controlled half of the mobile phone market. The company's young and energetic leadership was the reason for its widespread acceptance in the consumer market. Initially, new technology, the desire to digitise, and innovation were among the reasons for success. However, over time, Nokia's excessive growth rate, loss of agility, and lack of innovative leadership led to the company's strategic failure. By using the Product Life Cycle, investigate the factors that led to the demise of one of the largest smartphone developers in the 1990s.
In the early days of its success, Nokia emerged as one of the most successful mobile phone manufacturers. Nokia was the world's best-selling mobile phone brand in October 1998. By 2007, it controlled half of the mobile phone market. The company's young and energetic leadership was the reason for its widespread acceptance in the consumer market. Initially, new technology, the desire to digitise, and innovation were among the reasons for success. However, over time, Nokia's excessive growth rate, loss of agility, and lack of innovative leadership led to the company's strategic failure. By using the Product Life Cycle, investigate the factors that led to the demise of one of the largest smartphone developers in the 1990s.
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