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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ultimately falling victim to their own rigidity, cocky leadership, lack of vision in the smartphone industry, and outdated technology.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.

9 Replies

Replies (9)

Anonymous 3

Hey I am on Medial • 1y

Nice series 🥰

1 Reply

Anonymous 2

Hey I am on Medial • 1y

Nokia's story is a classic example of a market leader getting too complacent and arrogant. The touchscreen revolution left them in the dust..they were too pessimistic to adopt android

1 Reply

Anonymous 5

Hey I am on Medial • 1y

Nice content 👍

Shreyas Ramdasi

Mechanical Engineer • 1y

Nature and technology must have changed and upgrade it is the universal law

Shaswat

Sovereign • 1y

The reason was also that when all the phones brand's we opting Android at that time Nokia went to Microsoft and this was the Nokia's biggest mistake we can say and everything changed for the company, samsung takeover the market and coustomers attraction where as people who all were buying nokia was facing difficulties using Microsoft in phone . Later when Nokia done it's comeback as an Android phone it took so much difficulty for the company internationally Nokia's phones is coming good and people buying it but in india evryone think that Nokia is for poor people which is wrong .

Anonymous 4

Hey I am on Medial • 1y

Nokia phones were very dependable

Anonymous 1

Hey I am on Medial • 1y

It was hard to believe Nokia could fall so far so fast after dominating the mobile phone space for years. A harsh lesson in the perils of resisting change

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