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rise and fall of Nokia (Innovation (in 1981 they started work on a mobile…
rise and fall of Nokia
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Leadership change
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The new leadership brought changes, dividing the company into six units:
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In 1990’s, Nokia’s top leadership decided to focus solely on the telecommunications market,
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Innovation
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The Nokia 3600/3650 was the first camera phone on sale in North America in 2003. The company would go on to become a successful and innovative camera phone maker.
The year 1998 also saw the company launching the Nokia 8810, its first phone without an external antenna.
The year 2001 saw the company launching the Nokia 7650, it’s first phone to feature a built-in camera.
This was followed by the launch of its (as well as the world’s) first 3G phone, the Nokia 6650, in 2002.
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Investment
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In October 1998, Nokia overtook Motorola to become the best-selling mobile phone brand
Nokia’s net sales increased over 50% year-on-year, operating profits shot up nearly 75%, and stock price sky-rocketed a whopping 220%, resulting in an increase of market capitalization from nearly $21 billion to around $70 billion.
2004, the company again reported that it’s market share is sliding, despite still leading with the solid 35%.
Ownership
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In 1989, Nokia-Mobira Oy became Nokia Mobile Phones.
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android
In 2008 - the same year when the Android version 1.0 was launched - Nokia’s Q3 profits nosedived 30%, while sales decreased 3.1%. On the other hand, iPhone sales sky-rocketed by around 330% during the same period.