Entrepreneur Stories
The Grand Nokia Comeback
Despite the grand acquisition of Nokia by Microsoft in 2013, there were strong rumours flying around about Nokia’s disappearance. However, the close of 2016 saw something truly magical happening. Different companies around the world were rooting for a comeback by Nokia. With almost all the acquisition money down the drain and over 500 employees being laid off, Microsoft selling Nokia to HMD Global didn’t come as a surprise.
Why Nokia failed in the past
There were several reasons as to why Nokia wasn’t at the top between the years 2013 and 2016. Firstly, the world started thinking of Nokia phones as ancient products, without a modern touch. Secondly, Nokia just failed to catch up to the smartphone revolution and stalled in terms of producing innovative phones. Third, the Nokia and Microsoft acquisition just wasn’t working the way it was supposed to, a move which resulted in the complete stagnation of Nokia’s growth.
When HMD Global decided to remake Nokia into a world superpower, there was one goal: to imagine Nokia as the leader not just now, but in the year 2020 as well! The iconic Mobile World Congress conference in 2016, saw HMD position Nokia not just among the top three brands, but at the top of the chain by promising a series of new and innovative phones. Shortly after, the Company launched the Nokia 3, Nokia 5 and Nokia 6. Not only did they launch these three new phones, Nokia also launched the improved and refurbished version of the Nokia 3310. The launch of the Nokia 3310 in the form of a smartphone was a welcome addition because back in the good old days, this was one of the most widely used Nokia phones.
Picture credits: Quora.com
The journey to a bright future
While the new phones and tablets may have been the start of Nokia’s rise from the ashes, it was the marketing strategy employed by HMD which put the Company back on the map. With over 400 distributors present in more than 300 cities across the world, HMD made sure Nokia surpassed all its competition and almost regained its former glory.
Picture credits: Quikr.com
However, despite selling more than 4.4 million phones in the last quarter of 2018, the Company still struggled to stay afloat. While the Nokia 8 was like rain on a drought filled day, it wasn’t enough to satiate everyone’s growing hunger. The answer to the growing need for innovation? The Nokia 9! Two years after being bought by HMD Global, Nokia made not one, but several strategic changes like onboarding new distributors, changing its marketing game and making phones which were easily affordable by everyone!
With a series of phones which aren’t just affordable, but also infused with innovation and technology, Nokia has already managed to beat one of its primary competitors: HTC! With the Nokia 9 coming out soon, it is going to be interesting to see where the future of this Company lies!
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