Nokia Strategic Plan
Introduction
Figure [ 1 ] Nokia’s current Logo, with its “Connecting People” slogan, Courtesy: Wikipedia
Figure [ 1 ] Nokia’s current Logo, with its “Connecting People” slogan, Courtesy: Wikipedia
Nokia Corporation is a Finnish multinational communications and information technology corporation. It is comprised of three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks. Devices & Services is responsible for managing the company’s portfolio of mobile devices, as well as related services such as applications and content. NAVTEQ is a wholly owned subsidiary of Nokia which provides digital map information, navigation systems, and other location-based content and services for mobile devices. Nokia Siemens Networks, a joint venture between Nokia and Siemens, provides telecommunication infrastructure and network services.
Nokia’s main products are mobile phones and portable IT devices. As of 2012, it is the world’s second largest mobile phone vendor by unit sales (after Samsung), with global market share of 22.5% in the first quarter. In 2011, Nokia is ranked 143th as the world’s largest company by revenue on the Fortune Global 500. Its revenue in 2011 was around €38 billion. Nokia currently has about 122,000 employees across 120 countries and sells in over 150 countries.4
Nokia was the world’s largest mobile phone manufacturers from 1998 to 2012, but its market share has significantly declined in the past five years due to intense competition in the smartphone market by RIM’s BlackBerry, Google’s Android-based devices, and most importantly, the Apple’s iPhone.2 Nokia’s stock price dropped over 92% from its high of almost US$40/share at the end of 2007 to only about US$3/share in 2012. Since 2011, Nokia has been undergoing a period of restructuring, with combined planned and actualized job cuts over 24,500 positions worldwide by the end of 2013. On 18 June 2012, Moody’s Rating Agency downgraded Nokia’s bonds to junk.
Figure [ 1 ] Nokia’s current Logo, with its “Connecting People” slogan, Courtesy: Wikipedia
Figure [ 1 ] Nokia’s current Logo, with its “Connecting People” slogan, Courtesy: Wikipedia
Nokia Corporation is a Finnish multinational communications and information technology corporation. It is comprised of three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks. Devices & Services is responsible for managing the company’s portfolio of mobile devices, as well as related services such as applications and content. NAVTEQ is a wholly owned subsidiary of Nokia which provides digital map information, navigation systems, and other location-based content and services for mobile devices. Nokia Siemens Networks, a joint venture between Nokia and Siemens, provides telecommunication infrastructure and network services.
Nokia’s main products are mobile phones and portable IT devices. As of 2012, it is the world’s second largest mobile phone vendor by unit sales (after Samsung), with global market share of 22.5% in the first quarter. In 2011, Nokia is ranked 143th as the world’s largest company by revenue on the Fortune Global 500. Its revenue in 2011 was around €38 billion. Nokia currently has about 122,000 employees across 120 countries and sells in over 150 countries.4
Nokia was the world’s largest mobile phone manufacturers from 1998 to 2012, but its market share has significantly declined in the past five years due to intense competition in the smartphone market by RIM’s BlackBerry, Google’s Android-based devices, and most importantly, the Apple’s iPhone.2 Nokia’s stock price dropped over 92% from its high of almost US$40/share at the end of 2007 to only about US$3/share in 2012. Since 2011, Nokia has been undergoing a period of restructuring, with combined planned and actualized job cuts over 24,500 positions worldwide by the end of 2013. On 18 June 2012, Moody’s Rating Agency downgraded Nokia’s bonds to junk.