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Rise and Fall of Nokia

In: Business and Management

Submitted By rkrohilla2000
Words 6204
Pages 25
A CASE
ON
RISE & FALL OF NOKIA
(INSIGHT TO THEIR STRETEGIES)

Submitted by:

RAJIV KUMR ROHILA – S065
JAGDEEP SINGH - S029
TOSHIT KUMAR - N065

Case Overview

NOKIA was the most successful European company of the 1990s. The Finnish mobile-phone manufacturer captured the emerging market for mobile phones and built the industry's most powerful brand. Its handsets virtually defined the industry from the time it launched its first GSM phone, the 1011, in 1992. From 1996 to 2001 its revenues increased almost fivefold, and by 1998 it was the world's biggest mobile manufacturer. In 2005, it sold its billionth handset, an 1100 to a customer in Nigeria.

Despite being the market leader in the mobile phone market since 1998, the company saw a decline in its brand value since the early 2000. It was once a firm with turnover exceeding the tax revenue of the country it was based in. However, the company not only first lost its number one ranking, a position it had held for 14 years but reach to sell-off in less than 10 years. So the most valid question from all is what happened to Finland's most beloved company?

This case is all about analysis of NOKIA’s strategies responsible for its market domination to sell-off .

Snapshot of NOKIA’s History

To understand the Rise and Fall of NOKIA, it is important to track the history of NOKIA on a single canvas. The same is attempted through following short liners in this regard:

|1865: |A wood pulp mill was set up by a mining engineer named Fredrik Idestam at the Tammerkoski Rapids in south-western Finland. |
|1871: |The name NOKIA was born based on the name of Nokianvirta river on the on the banks of which Idestam opens a second mill. |
|1898: |Eduard Polón founds Finnish Rubber...

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