Flow of Case Study: Downfall of Nokia
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https://doi.org/10.59890/envmrx93Keywords:
Case Study, Downfall of NokiaAbstract
It has been chosen for exploring a case related to the fall of Nokia, which was the market leader in mobile telephones, and analyzing factors that led to an unsuccessful ending to a journey of dominance. (Vidani, 2015)This company had already turned into the synonym of mobile innovation, similar to iconic products like the Nokia 3310, at the start of the 2000s. (Vidani & Solanki, 2015) At least, however, client expectations suddenly changed, and new technology came along in the form of the iPhone and Android, causing a dramatic shift in changing consumer expectations. (Vidani, 2015)This was partly due to its unwillingness to adjust to this shift, and also by failing to innovate in its Symbian operating systems-though innovation alone may not have overcome the problem posed by the proliferation of smart phones.Things only got worse because of strategic mistakes, such as weak leadership and inability to adapt rapidly in response to new market sentiment. (Vidani, 2015)It never managed to revive itself in the market from a series of attempts at recovery through alliances, most notably with Microsoft, and then by releasing its Lumia smartphone line. All this came together to send its market share plummeting and eventually saw the selling of its mobile division to Microsoft in 2014. (Vidani, 2015)This case study extracts from Nokia important lessons on innovation, adaptability, and market awareness driving technology-based industries. (Solanki & Vidani, 2016) A review of Nokia's journey will illustrate the consequences from complacency and why firms cannot remain nonresponsive to shifting consumer needs and competitive environments. (Vidani, 2016)In this analytical account, the story of Nokia is in a sense a kind of cautionary lesson for other firms navigating the constantly and rapidly shifting technology ecosystem
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