And there came an iPhone!
Posted: Sun Sep 23, 2018 11:28 am
Not long ago, Nokia was the most dominant mobile phone maker. It ruled the mobile industry for over 10 years. Nokia was so dominant that they felt they could do nothing wrong! Then all of a sudden, in 2007, the late Steve Jobs launched the "iPhone" and started the touch smartphone revolution.
Nokia also joined the race of touchscreen phones but they didn't realize that people were interested in apps and good interface rather than the hardware alone. At that time, 60% of the phones in the world were sold by Nokia, but the sales dropped down to 10% within 2 years! Nokia was slow to respond to the new trend and soon got out of the race. And in 2013, they fired 25,000 of their employees and shut down most of their production sites worldwide.
Though they were acquired by Microsoft later that year, the company's evaluation which was more than $50 billion, was sold out for just $7 billion. Gosh! it was such a tragic time for the company that even their CEO cried during a speech! He said, "We didn't do anything wrong, but somehow we lost." The biggest tech company went bankrupt just because they didn't adopt change.
Did you get that? "Change might be hard, but it's always for the best." Keep the change! Welcome to the GSM-Tutors Community made with ❤.
Copyright RomShillzz, #ODM. And should not be reproduced!
Nokia also joined the race of touchscreen phones but they didn't realize that people were interested in apps and good interface rather than the hardware alone. At that time, 60% of the phones in the world were sold by Nokia, but the sales dropped down to 10% within 2 years! Nokia was slow to respond to the new trend and soon got out of the race. And in 2013, they fired 25,000 of their employees and shut down most of their production sites worldwide.
Though they were acquired by Microsoft later that year, the company's evaluation which was more than $50 billion, was sold out for just $7 billion. Gosh! it was such a tragic time for the company that even their CEO cried during a speech! He said, "We didn't do anything wrong, but somehow we lost." The biggest tech company went bankrupt just because they didn't adopt change.
Did you get that? "Change might be hard, but it's always for the best." Keep the change! Welcome to the GSM-Tutors Community made with ❤.
Copyright RomShillzz, #ODM. And should not be reproduced!