It is sometimes hard to think what would have led to the downfall of companies that once ruled the economy. The latest entry into the list is NOKIA, a MNC from Finland that was at one time world’s largest vendor of mobile phones.
Making its way into the booming market of India in 1995 and as the only handset company in the country, Nokia took the market by storm. Its handsets were a huge hit and with constant technical updates, it kept winning the heart of the Indian consumers. From ring tones to polyphonic tones and VGA to MegaPixel cameras, the handsets never went out-of-date.
So what went wrong?
Once a dominant force, next the slaves – what led to the downfall of this pioneering company is hard to imagine. The sky was all blue 7 years ago in 2007 when it held the maximum market share in the market of cellphones, i.e., 41%. The tragedy struck when Samsung, the Korean electronic megacorp featured its line of affordable smartphone in the beginning of 2008. This was followed by other players in the market, mainly Apple’s iPhone and Micromax. By the end of 2008, a horde of cheaper touchscreen smartphones were made available while Nokia remained stubborn to jump on the similar bandwagon.
The release of Android created another physical barricade for the Symbian operated Nokia phones.
The downfall continued and it wasn’t until 2011 when Nokia came out with its new handset, Lumia 800 and later, Lumia 710. The handsets were in with Microsoft’s Windows mobile phone platform with an aim to take over the market once again. Sadly, it could do little to gain the hearts of the masses who were already influenced by the increasingly popular Samsung Galaxy S Series.
Nokia finally handed over its mobile developing wing completely to Microsoft.
Nokia has recently launched a new tablet, named N1, sales of which will begun from February 2015. The device promises some neverbefore impressive features that will redefine the tab experience.