Why Nokia failed and lessons for businesses.

You Remember Nokia and all the different types of phone 3310, 1100, communicators and likes in the Nokia series???

Unfortunately for Nokia, it did not prove to be as indestructible as its ‘legendary’ 3310 model.

Because the company made a costly mistake. Today, Nokia once a market leader in mobile phone is nowhere!

Many businesses still make the same mistake till date which invariably will put their continuity and survival on the line in no time.

When I read Nokia story on http://hottestgist.com/threads/4-reasons-why-nokia-failed.1698/ I had a proper insight about the precise position of things.

I also watched a short clip on YouTube https://www.youtube.com/watch?v=uGPBwUdYV3M where the Nokia CEO was asked why they failed, he said “We didn’t do anything wrong, but somehow, we lost” and burst into tears.

In this high-tech era with changes in consumer’s taste on smart intelligence user applications and limited businesses technical know How by most business owners, The company which is missing the constant innovation and right business skills has a high probability of declining to the least of the business food chain.

The question is? What are you doing to remain relevant and competitive in your industry???

Professionally suggesting from the media perspective and being a leading digital marketing company in Nigeria.

By all means, it is highly recommended that innovation is key. Innovative and creative minds have been accepted world over as the strongest driving force behind all the greatest inventions in the history of Humanity… Nokia within its capacity had limitations as regards flexibility and embracing new cutting edge breakthroughs like their contemporaries e.g. Androids and Mac. Just like black berry, their investments on R and D was on the decline while competitors like Samsung and likes saw that particular course as worth taking to the next level.

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