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Nokia: Overview
Current data on brand performance of Nokia
The Finnish mobile phone company Nokia once dominated its industry, but its market share has recently been experiencing a precipitous decline. "The year Apple launched the iPhone, 2007, was Nokia's best-ever year: it sold 436 million handsets -- nearly 40 per cent of the total purchased worldwide. (Its nearest competitor, Motorola, sold 164 million.) That year, Nokia made £6.7 billion in profit. Five years later, Nokia's share of the global handset market has almost halved, to just 23.8 per cent. Last year, Samsung sold more smartphones. So did Apple. In 2011 Nokia made a pre-tax loss of £1 billion. The company currently holds cash and liquid assets of just £4.7 billion" (Kirwan 2012). Thus, within the span of less than five years, Nokia has gone from industry leader to a company whose future existence is in doubt. Nokia is no longer Finland's most profitable company and there are serious questions as to whether...
For example, last year, Nokia sold 340 million no-frills phones for an average £30 each -- but now, Chinese Android-based handsets sell around £25 each at retail (Kirwan 2012). The company has just released a new smartphone which it hopes to be competitive with the most damaging product on the market in terms of its target demographic, that of the Google Android. Although competition from Apple cannot be ignored, in general, loyal Apple consumers have a far higher price point than those of Nokia's target demographic.
Nokia's current CEO believes that the company has several competitive advantages. "First, there's its prowess in camera technology, highlighted with the recent launch of the 808 PureView, a Symbian handset capable of taking 41-megapixel pictures. Similar technology is on its way to…
References
Kirwan, Peter. (2012). Nokia's last stand. Wired. Retrieved:
http://www.wired.co.uk/magazine/archive/2012/06/features/nokias-last-stand?page=all
Mangan, Steven. (2012). Nokia looks to revamp marketing strategy. Reuters.
Retrieved: http://www.reuters.com/article/2012/07/23/net-us-nokia-idUSBRE86I0F620120723
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