During the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, with tears in eyes, sadly.

Nokia has been a respectable company. They didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too powerful.

They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.

The message of this story is, if you don’t change, you shall be removed from the competition.

It’s not wrong if you don’t want to learn new things. However, if your thoughts and mind-set cannot catch up with time, you will be eliminated.

Conclusion

1. The advantage you have yesterday, will be replaced by the trends of tomorrow. You don’t have to do anything wrong, as long as your competitors catch the wave and do it RIGHT, you can lose out and fail.

2. To change and improve yourself is giving yourself a second chance. To be forced by others to change, is like being discarded.

3. Those who refuse to learn & improve, will definitely one day become redundant & not relevant to the industry. They will learn the lesson in a hard & expensive way.

4. Wrong and Right are really relative each other. The point is you act slower. In today's business world, from survivors to leading companies are only those who act and change faster including fail faster and pivot faster.

5. Its never too late.

6. The only thing unavoidable in life is change.

7. A lesson to other companies also: arrogance is the kiss of death.

8. When you're a leader in an industry you have to knock your own cash cows off or someone else will.

9. Great lesson for entrepreneurs... innovate or die.

10. Mark Zuckerberg’s formula “Ambition, Vision, Determination, Execution, Luck and Timing.”

It’s not wrong if you don’t want to learn new things. However, if your thoughts and mind-set cannot catch up with time, you will be eliminated. Nokia is now history... Who is next?

Nokia all the way.

E

MightySparrow:
Nokia all the way.

why you thief my FTC?

what a useless post

MightySparrow:
Nokia all the way.

Yea, the handshake when powering on their phones will never be forgotten.

If you want to write this kind of trash, use Blackberry not Nokia.
Nokia is still in the game just that they dropped off a little.


Blackberry are dead & buried worldwide because they were forming 'we have a technology that no one else has' (BBM) & its the same thing Apple is doing today (iOS).


Apple will die a horrible death very soon.

Nothing last forever, nobody stays at the top forever.
Someday all the trending phones of today will all gone Blackberry way.




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Nokia is not ready for business, the market is still there ft dem to grab but they still busy priducing phones with low spec and high price..

Very informative post. I did a little more research on this. Just shows what happens when you're adamant and stubborn to change.

You'll be screwed in the long run.

The sin Nokia committed that nailed the phone brand to the cross was their reluctance to switch from Symbian to Android. Even worse, they choose Windows when Android was gaining fraction globally. And before they could catch up, it was too late.

They could still come back though, back and strong. Huawei is less than 35 years old and competing big time with Samsung, an even older company. What more of Nokia?

It surprised and pained me till date on how they quickly phased out, I always try as much as possible to buy their product when I can cos my first Nokia phone was N series back in 2006 and I've been a loyal fan since then, I'll always love Nokia.

It's good to be well informed and not just copy phrases stand alone and build on it without knowing the genesis. Twisting. Nokia didn't die. They lost their top shot position. Doesn't mean they are dead. They lost as a result of hoarding, they underestimated the market, and hostile mafia takeover. market dynamics. They had the advance touch screen before android iOS launch but the felt their tech was too advance for the market/generation. They underestimated the market. They were scared it will flop due to too much of sophistication but they forgot nothing is too big for the market to absorb. Samsung and others took the bold step and gave the people real deal. And it was a hit. Nokia is the top 15th global mobile device brand and no 5 for world best phones with 15 millions unit sales per year with a sales revenue of $26.6 billion per year and a Net worth of $28.16 billion . Sir, they are not dead. They are not popular in this side of the world like before.

Also, Nokia played a gentleman's game. In business, learn to break the rules well, pay your cash and move on. Who cares! Remember there is always a spy on you by competitors. Samsung did it to Apple severely. Google to Yahoo. HP and DELL to IBM etc. If you can't snitch, you, forget you innovation. Businesses with big spenders will out do it for you and beat you in your game. You will be back benched.
Make a hit and move on. Don't hold on too long or hoard innovation/ideas. Keep all eyes on your competitors. Be generous with your cash. Buy your way.

Again, they were used by Microsoft to test their own iOS, a more complex and less responsive interface then. Instead for them to quickly backtrack to switch to android. They became Microsoft specimen because they were already bought by bill gate as a result of fallen stock. A Mafian purchase with no option. A 2nd blow. Management was helpless. That was what lead to the M.D's emotional speech. Hostile takeover to be used as Microsoft ios specimen launch pad.

For BB, they still exist and still much in operation. It's for a specific market. They diversified and contracted out the phone production arm to a Chinese firm which was later revoked though. They have several product line aside BB handset. They are still much in operation just like Sony, SonyEricssion , Philip, Motorola , HTC etc... They are there diversifying.

Same thing happened to IBM( the American Pride!) , Yahoo, Toyota...... etc

This kinda thread is rare on NL, the way truth and motivational speechs are being kept here is nice, Xenry, you did it right this time, Redpilling is not a daily thought.

Nokia did something wrong in case you don't know.
You see, in the market, you've got to be smart and proactive.

Sat the time when mobile tech companies introduced the "Android" brand into the market, Nokia chose to introduce "Windows"

That mistake made them lose their market share to Tecno and Infinix.

Now, who gives a bleep about Windows?

Xenry:
Yea, their handshake while powering on their phones will never be forgotten.

I use one now will better OS prograthan it's person of the same price. I pray they charge he people in management for better market strategy.

I call on anyone who is into business to read this article thru and thru. This is the ultimate Gemini of business success_the ability to adapt.

Everybody saying Nokia made a mistake by choosing Windows over Android just because Windows never caught on. If Windows had succeeded, would y'all still maintain the same statement??
Nokia took a gamble with Windows something every company does. Nobody can accurately predict how the market will react in the future!. Something y'all always overlook is that it wasn't only Nokia that produced Windows phone, Samsung and one other were in too. Nokia only mistake was that they were the flagbearer so they couldn't pull out even it was obvious they should when others did. Windows failed because Microsoft didn't understand that the market doesn't really care about diversification and choices so they focused more on making Windows the 3rd choice instead of wooing developers to make sure apps are steadily available when they are out on other platforms. Something iOS is good at.
Nokia took a gamble which if it had paid off could have made them one of the top players in the market. It just didn't work out

I get your point

You have to learn and evolve to remain relevant

Thanks for the Monday motivation

I thought you were going to pinpoint how Nokia lost it.
It appears you don't know anything about the company.

DoggoneDogg:
If you want to write this kind of trash, use Blackberry not Nokia.
Nokia is still in the game just that they dropped off a little.


Blackberry are dead & buried worldwide because they were forming 'we have a technology that no one else has' (BBM) & its the same thing Apple is doing today (iOS).


Apple will die a horrible death very soon.

lol exactly bro
Apple is doing exactly what blackberry was doing back in those days

Mastakija:
lol exactly bro
Apple is doing exactly what blackberry was doing back in those days

do you mind explaining it further??

Personal opinion: iOS and Android both need each other to exist the way they are. The end of one will be the fall of the other.

To me Nokia remains the best

Nokia played a bad game and it backfired. You just can't ignore the "Android" phenomenon like that, especially when the resources were probably available to create your own model of Android. There's no crime in copying your competitor's creative and marketable idea, so far as they aren't patented, and the trademark rules are respected.

They paid for their "elitism" and "arrogance/over-confidence"

emae009:
Everybody saying Nokia made a mistake by choosing Windows over Android just because Windows never caught on. If Windows had succeeded, would y'all still maintain the same statement??
Nokia took a gamble with Windows something every company does. Nobody can accurately predict how the market will react in the future!. Something y'all always overlook is that it wasn't only Nokia that produced Windows phone, Samsung and one other were in too. Nokia only mistake was that they were the flagbearer so they couldn't pull out even it was obvious they should when others did. Windows failed because Microsoft didn't understand that the market doesn't really care about diversification and choices so they focused more on making Windows the 3rd choice instead of wooing developers to make sure apps are steadily available when they are out on other platforms. Something iOS is good at.
Nokia took a gamble which if it had paid off could have made them one of the top players in the market. It just didn't work out

But why choose "Windows" over "Android"...why even make a choice? Couldn't they run both at once? Imagine an arm of the company focusing on Windows while another majored on Android as early as possible. By now, Nokia would still have maintained its position. It's foolish to put all your eggs in one basket.

My parents taught me this lesson when I was learning from them to manage the family business. Right now, I don't mind importing what I've not seen in the Nigerian market before. If the resources are available, I buy. It doesn't also matter if I know how saleable the commodity is or not. If my mind just tell me it's going to be a hit based on its purpose, I buy it immediately. And if it happens to get to the shores of this country and I get the said commodity into the market, being the first importer to have such commodity in the market, I can fix any price to the commodity. It doesn't matter if it's thrice the cost price. People will buy it like that, since there's no other competitor who has this "new" commodity.

Nokia bleeped up. Their inability to cue into a budding trend cost them their place in the market

DoggoneDogg:
If you want to write this kind of trash, use Blackberry not Nokia.
Nokia is still in the game just that they dropped off a little.


Blackberry are dead & buried worldwide because they were forming 'we have a technology that no one else has' (BBM) & its the same thing Apple is doing today (iOS).


Apple will die a horrible death very soon.

Nice

In life, the only constant thing is change.



In my own case, wedding photography has evolved over the years. It's only a photographer of season that reigns.

Who's next?
Maybe nairaland

Jeferious:
But why choose "Windows" over "Android"...why even make a choice? Couldn't they run both at once? Imagine an arm of the company focusing on Windows while another majored on Android as early as possible. By now, Nokia would still have maintained its position. It's foolish to put all your eggs in one basket.

My parents taught me this lesson when I was learning from them to manage the family business. Right now, I don't mind importing what I've not seen in the Nigerian market before. If the resources are available, I buy. It doesn't also matter if I know how saleable the commodity is or not. If my mind just tell me it's going to be a hit based on its purpose, I buy it immediately. And if it happens to get to the shores of this country and I get the said commodity into the market, being the first importer to have such commodity in the market, I can fix any price to the commodity. It doesn't matter if it's thrice the cost price. People will buy it like that, since there's no other competitor who has this "new" commodity.

Nokia bleeped up. Their inability to cue into a budding trend cost them their place in the market

The budding trend you are talking about here is the android market right? In a way you are correct. Even when they did introduce their own android phones it was too late because other brands had already grabbed hold of nearly all the customers. They tried catching up up but their pricing was way too high. Take a look at Tecno. They introduced cheap, affordable android phones into the African market and that has kept them in business.

Jeferious:
But why choose "Windows" over "Android"...why even make a choice? Couldn't they run both at once? Imagine an arm of the company focusing on Windows while another majored on Android as early as possible. By now, Nokia would still have maintained its position. It's foolish to put all your eggs in one basket.

My parents taught me this lesson when I was learning from them to manage the family business. Right now, I don't mind importing what I've not seen in the Nigerian market before. If the resources are available, I buy. It doesn't also matter if I know how saleable the commodity is or not. If my mind just tell me it's going to be a hit based on its purpose, I buy it immediately. And if it happens to get to the shores of this country and I get the said commodity into the market, being the first importer to have such commodity in the market, I can fix any price to the commodity. It doesn't matter if it's thrice the cost price. People will buy it like that, since there's no other competitor who has this "new" commodity.

Nokia bleeped up. Their inability to cue into a budding trend cost them their place in the market

As an analyst you can't fault Nokia's decision at the time. Nokia position in the phone industry was massive. At the time Windows was developed, BlackBerry was on a decline, Android was coming up. With their customer base it was possible for them to open up the market to a 3rd OS, the mistake came from WindowsOS and not Nokia. Microsoft misjudged what the market really wanted and Nokia being under contract had no choice but to see it out.
The same misjudgement cost BlackBerry their place in the phone industry. It was never about having a 3rd choice in the OS market, it was all about apps availability and ease of share.
Microsoft signed Nokia to a contract to only run the Windows OS. So Nokia couldn't produce Android phones alongside Windows'. Samsung was also producing Windows phone but not on that same contract.
You can't possibly predict consumers' behavior with absolute certainty in such a competitive market. Like right now, why is Samsung not producing phones running HarmonyOS? Or Oppo or Techno. Can you tell me with 100 percentage certainty that they will regret the decision not to in 5 years time?? I'm sure you can't neither can I. But if it happens, you'll see people come up with articles like this.

I don't know what business you do but running family business is different from running a business where you answer to shareholders. You don't make decisions based on instincts. You have to do market survey, data analysis and trend prediction.

emae009:


As an analyst you can't fault Nokia's decision at the time. Nokia position in the phone industry was massive. At the time Windows was developed, BlackBerry was on a decline, Android was coming up. With their customer base it was possible for them to open up the market to a 3rd OS, the mistake came from WindowsOS and not Nokia. Microsoft misjudged what the market really wanted and Nokia being under contract had no choice but to see it out.
The same misjudgement cost BlackBerry their place in the phone industry. It was never about having a 3rd choice in the OS market, it was all about apps availability and ease of share.
Microsoft signed Nokia to a contract to only run the Windows OS. So Nokia couldn't produce Android phones alongside Windows'. Samsung was also producing Windows phone but not on that same contract.
You can't possibly predict consumers' behavior with absolute certainty in such a competitive market. Like right now, why is Samsung not producing phones running HarmonyOS? Or Oppo or Techno. Can you tell me with 100 percentage certainty that they will regret the decision not to in 5 years time?? I'm sure you can't neither can I. But if it happens, you'll see people come up with articles like this.

I don't know what business you do but running family business is different from running a business where you answer to shareholders. You don't make decisions based on instincts. You have to do market survey, data analysis and trend prediction.

I understand better now. I must admit, some facts you stated here are new to me. That's impressive knowledge.

But my question is this, was it possible for Nokia to have signed a contract where they could also allow other softwares apart from Windows to run on their phones? Or even if the contract would only be with Windows and no other software company....why not make the duration of the contract short? Maybe 1 or 2 years? At least you get to see if the market would love Windows. Where this isn't the case, Nokia then switch sides without losing too much time.