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Hiral Jain
Content writer • 1y
Hey everyone! Day 6 of knowing about companies that failed in the indian (global) market. Ever wondered how a company, once a dominant force in the industry, can crumble just by refusing to adapt to change? NOKIA was once the undisputed leader in the mobile phone industry, but its journey has been a rollercoaster ride. The company's fortunes took a nosedive when it failed to keep up with the industry's rapid developments. I.e shift from keypad phones to touchscreens, Nokia's reluctance to embrace this change cost them dearly. They missed several opportunities, and helping others to acquire the spotlight! Nokia's story serves as a powerful lesson. By resisting change, they lost their kingdom, ultimately falling victim to their own rigidity, cocky leadership, lack of vision in the smartphone industry, and outdated technology. It's a cautionary tale that highlights the importance of embracing innovation and being open to change in the ever-evolving business landscape.
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