This video describes how and why Nokia, once an iconic mobile phone industry leader, faced a downfall during the advent of smartphones.
Nokia is a Finnish multinational corporation that goes all the way back to the nineteenth century and started with wood mills that produced mainly paper. Yes, the same Nokia that a hundred years later created cultural icons and became a mainstay in mobile phones for some years, and it was interesting enough for Microsoft, who bought Nokia. The story, however, is much more complicated than that.
Nokia’s slow adaptation to touchscreen technology, an outdated operating system, struggles with app ecosystem development, a failure to respond quickly to emerging market trends, and internal challenges, including management issues and a lack of agility, are suggested as contributing factors to its decline in comparison to the success of iPhone and Android devices.