The downfall of the Nokia giant might have come as a surprise for many passionate Nokia fans and clients all around the world. Not more than a decade ago, the Finnish company was the leader of the technology sector, and no accident lawyer could go without his or her very own Nokia device. Plus, folks who chose to purchase Nokia shares during the tech boom period were also blessed with some impressive earnings. Nevertheless, if Nokia shares were worth around $56 in 2000, they are now worth no more than $7, which is more than a significant drop in value.
Comparing the situation of Apple’s iPhone shares or the Google shares numbers, we could say that their flotation is on the positive side. So what triggered the sudden drop in value when it comes to Nokia shares? For no less than 14 years, Nokia has been the ruler of the handset makers. But the figures of the first quarter of 2012 show that Nokia has only sold 83 million devices, while Samsung sold 92 million. Standard & Poor has also downgraded Nokia’s bonds to a BB+/B grade.
Nokia managers have definitely gone through a great deal of headache and back pain in 2007 when Apple giant decided to send the iPhone on the market. The first touch phone definitely left Nokia’s obsolete devices behind. Nokia failed in keeping up with the rest of competitors such as Samsung, and its future prospects did not look good at all. Nokia was incapable of properly anticipating and preparing for the changes in the field.
The lack of innovation was therefore an additional reason why Nokia was left so far behind. Watching some Nokia movie trailers online will help people understand that the Finnish company has failed to keep up with the rest of modern-day technologies. The Windows phone that was launched in 2011 did not feature some of the very basic technologies that were required to stimulate payday UK loans in order to purchase more Nokia devices. Yearly modifications were not brought to new devices and the poor design of the Nokia Lumia series has also lead to the Nokia downfall. The lack of a front camera and hence the lack of the 3G feature in a time when 4G is just a few inches away are additional reasons why Nokia is prone to turn into a topic that work-home moms might be interested in while doing their blogging for kids, looking for interesting topics to talk about. Shiny, trendy looks failed to turn into Nokia designers’ main points of focus, leading to a drop in buyers’ interest, just like coconut oil for hair might stop posing interest for some women.
The switch from Symbian to Windows was also not something that Nokia fans were looking forward, in a world ruled by iOS and Android.