Nokia: The Rise and Fall

The success of Nokia began in the late 1990s and early 2000s, when it became the world’s leading mobile phone manufacturer. For decades, Nokia led the telecommunications industry in handsets and networking. Who doesn’t remember the shaking hands logo? Or the Snake game? The Nokia ringtone… Back then, it wasn’t about the brand, it was just about what model of Nokia you have. Some people believe that the iPhone, announced from Steve Jobs in 2007 and the Smartphones running Google Android in 2008 killed Nokia. Others think that the problem was bad management of the company. Whatever the reason was, Nokia just couldn’t fight off the new competition. Nokia’s smartphone market share in 2007 was a dominant 50.8%. Then, a year later it starts to decline and in 2013 it had plummeted to just 3%. In 2013, Nokia sold its Device and Services business to Microsoft for $7.2 billion. In early 2015, the name Nokia Lumia was replaced with Microsoft Lumia. And that… is the end of the story.