What happened to Nokia, the Tech Giant of the 1990s?

If you grew up in the 1990s, chances are you owned or wanted to own a Nokia phone.

The Finnish company was the undisputed leader of the mobile phone market: Nokia owned supermodels like the 3310, the N-Gage, and the Communicator.

Nokia was known for innovation, quality, and reliability.

But what happened to Nokia?

Let’s explore the rise and fall of Nokia, and what lessons we can learn from its story.

Beginning

Nokia’s origins date back to 1865, when it started as a paper mill in southern Finland.

Over the years, it grew into various industries, such as rubber, cables, and electronics.

In the 1980s, Nokia decided to focus on telecommunications and entered the mobile phone market.

It quickly became known for making durable, user-friendly, and stylish phones for its customers.

Nokia also invested heavily in research and development and pioneered many features. These included smartphones, such as cameras, internet browsers, and touchscreens.

The Start of the Fall

Nokia’s golden age was in the late 1990s and early 2000s when it dominated the global market share with over 30%.

Why: It had its phones operate the Symbian operating system.

This operating system was the most powerful and easiest to use at that time.

Competition

In 2007 Apple launched the first iPhone which was well designed with a powerful ecosystem of apps.

In 2008 Google followed with Android and made it open source.

These new competitors posed a serious threat to Nokia’s dominance.

Why: Their operating systems were new, smarter, fast and easier to use.

Nokia’s response:

Nokia stayed attached to its platform and strategy.

Nokia overestimated the value of its hardware and brand over innovation in software.

Failure to listen to customer feedback and the market affected them more.

In 2011 Nokia partnered with Microsoft and adopted Windows Phone as its operating system.

This move proved to be too little too late, as Windows Phone failed to gain consumers’ approvals.

By 2013 Nokia’s market share dropped to less than 10%.

Finally, Nokia sold its mobile and device share to Microsoft for around $7.2 billion.

What about the current Nokia Phones on the market?

Nokia still retained its other businesses, such as network equipment, mapping services, and patents (Nokia Technologies).

It also re-entered the mobile phone market in 2016 through a licensing agreement with HMD Global.

This is a Finnish company that makes Android Smartphones under the Nokia brand name.

These businesses are not yet as profitable or influential as Nokia’s former smartphone division.

But knows the “sleeping giant” might be awakened  with the  increasing changes in the business

Conclusion

Nokia was once a tech giant that inspired millions of people around the world with its products and innovations.

 It still has a chance to reinvent itself and regain its relevance in the mobile industry.

Please checkout: Did you know Who is the Internet Boss?

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Hopefully, this article reminded you of your old Nokia Phone!

Thanks for reading