Business of… Nokia
Believe it or not, this Finnish company remains one of the titans of the global mobile phone industry, despite losing ground to the likes of Apple and Google.
February 13, 2011 4:10 by Samuel Potter
But oh dear, oh dear… what’s that coming round the corner? It’s that big nasty Steve Jobs, with his big, clever iPhone! Life was all good for Nokia until the latest generation of mobile phones arrived. Like so many Apple products, the iPhone was a game changer for the industry, ushering in a new era where people expected their phones to perform more like computers than phones. They were internet ready and multi-media enabled, and they sold by the million.
Somehow, it seems that Nokia dropped the ball. Despite 27 percent of their work force – an incredible 35,870 people – working in research and development (with the highest budget in the industry), the company has failed to adequately keep up with these innovations. At least, it has in the public’s conscious; think about it, can you name a Nokia smartphone? Maybe they have been building them, but the public haven’t been buying.