Jeremy Tintle - Why Nokia Crashed by Jeremy Tintle
Jeremy Tintle is going to tell you all his view on why Nokia crashed in the market.Nokia crashed because of its immature decision to run a massive restructure process. Nokia ran a massive restructure process to revive the company. The process ran for three years. But, in these three years the former global mobile communications giant is almost out of the market. Due to the crisis in its market, it was searching for a buyer. And recently, Microsoft agreed to overtake the handset and services business of Nokia for about $7.2 billion.
Do you know when in 2007, Apple was developing user friendly Iphone, Nokia’s research and development team was thinking very high about the future? Nokia was in good condition even after the great recession. It had dominance in the market. Jeremy Tintle says that when Olli-Pekka Kallasvuo was appointed CEO in 2006, he vouched to increase Nokia's U.S. market share. But after the massive three year’s long restructure of the company, the share price of the company almost halved. Nokia got tough competition by Samsung and Apple in 2010. They were developing and introducing smart phones to take on Nokia. Unfortunately, what Apple and Samsung were doing in 2010, Nokia could do in 1990’s, as Nokia was developing smart phones in 1990’s but the company did not commercialize the project. Nokia’s US operations illustrate its strategic erosion. The really bad thing that Nokia did was that it did not allocated big budgets for its research & development activities, while its competitors like Samsung and LG were enthusiastically investing money for development.
Jeremy Tintle says that Veterans in Nokia believe that it was the restructure of the company that crashed it completely. Besides, they believe that Nokia missed to put its hands into smart phones. An interesting fact about the competition in the world of handset manufacturing is that Apple grabbed the U.S. market, but it failed to globalize and Nokia managed to globalize, but it failed to grab the U.S. market.
Jeremy Tintle wants to tell you that believe or not, but Nokia’s fall is a lesson for everyone.
1. Jeremy Tintle - Why Nokia Crashed by Jeremy Tintle
Jeremy Tintle is going to tell you all his view on why Nokia crashed in the market.Nokia crashed
because of its immature decision to run a massive restructure process. Nokia ran a massive
restructure process to revive the company. The process ran for three years. But, in these three
years the former global mobile communications giant is almost out of the market. Due to the
crisis in its market, it was searching for a buyer. And recently, Microsoft agreed to overtake the
handset and services business of Nokia for about $7.2 billion.
Do you know when in 2007, Apple was developing user friendly Iphone, Nokia’s research and
development team was thinking very high about the future? Nokia was in good condition even
after the great recession. It had dominance in the market. Jeremy Tintle says that when OlliPekka Kallasvuo was appointed CEO in 2006, he vouched to increase Nokia's U.S. market share.
But after the massive three year’s long restructure of the company, the share price of the
company almost halved. Nokia got tough competition by Samsung and Apple in 2010. They
were developing and introducing smart phones to take on Nokia. Unfortunately, what Apple and
Samsung were doing in 2010, Nokia could do in 1990’s, as Nokia was developing smart phones
in 1990’s but the company did not commercialize the project. Nokia’s US operations illustrate its
strategic erosion. The really bad thing that Nokia did was that it did not allocated big budgets for
its research & development activities, while its competitors like Samsung and LG were
enthusiastically investing money for development.
Jeremy Tintle says that Veterans in Nokia believe that it was the restructure of the company that
crashed it completely. Besides, they believe that Nokia missed to put its hands into smart phones.
An interesting fact about the competition in the world of handset manufacturing is that Apple
grabbed the U.S. market, but it failed to globalize and Nokia managed to globalize, but it failed
to grab the U.S. market.
Jeremy Tintle wants to tell you that believe or not, but Nokia’s fall is a lesson for everyone.
