Rise and fall of Nokia
Way back before phones had apps, touchscreens, or cameras, one Finnish brand led the mobile
phone revolution. Renowned for its indestructible build and multiday battery, Nokia swiftly
captured market share by promoting mobile phones as fashion accessories. Just like with watch
straps, users could swap cover colours, turning a cell phone into a fashion statement. By 1998,
Nokia overtook Motorola to become the world’s largest mobile phone brand. At its pinnacle in
2007, Nokia had 51% of global market share in mobile phones. To put that into context, Apple now
has roughly 25% of global market share. From the highs of global dominance to the lows of nearing
bankruptcy, Nokia’s phone business culminated in a sale to Microsoft for $7.2 billion in 2013.
Building a physical device such as a mobile phone is undoubtedly a feat. However, without good
software in it, it wasn’t going to stick. As Google entered the market in 2008, many competitors
jumped ship to the Android operating system. Among them were soon-to-be bestsellers Samsung,
Motorola, and Huawei. While competitors enjoyed an increasing share of the market, Nokia was
reluctant to switch operating systems.