startup stories in association with oh

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look dot a few companies go beyond
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connecting people he transformed the
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world similarly a brand was born in 1865
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in a paper mill in South West when LED
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which was considered as one of the most
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successful an important fortune 500
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company that is the name that
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revolutionized the world of
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communication and has ruled the food
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market for so many years however things
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took a drastic turn and this leader was
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not just dethroned from its position but
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was banished from the game itself today
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we take a look at the rise and fall of
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one of the most loved mobile brands in
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the world Nokia
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[Music]
01:00
formerly known as Nordic mobile phone it
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company built the first international
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mobile phone network in 1981 this was
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the beginning of the mobile era Nokia DX
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210 telephones words went into operation
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a year later what began as a simple idea
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slowly started manifesting into a major
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mobile revolution Nokia launched mobile
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tockman portable phone and later in 1987
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the world saw mobile satellite which was
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the first handheld phone in 1991 when
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the concept of GSM came into existence
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Nokia's equipment was put to use to make
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the first gsm car and what followed
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later disrupted the entire mobile market
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in the year 1992 Nokia's first gsm
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answered Nokia one zero one one hit the
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market and it became an instant hit
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later the popular trademark Nokia tune
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was launched and Nokia 2100 series was
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the first handset to have this as its
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signature tune when the first-ever
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satellite call was made using a Nokia
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GSM phone four years later in 1998 Nokia
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became the world leader in mobile phone
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market the innovation continued along
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with untiring research near 2002 saw the
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first ever 3g enabled phone nokia double
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six five zero later in 2003 with the
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launch of engage mobile game it further
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peers let's market among you and this
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cds became a craze among the young
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stands well with such consistency and
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market leadership there was no other way
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but going further up in the table but
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for Nokia it was completely different
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it was stepping on to ending its era
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which it had built with several years of
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perseverance and hard work with the
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launch of Android and iOS phones the
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market for Nokia started diminishing and
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thus began the fall of full of the
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world's largest mobile phone producer
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well Nokia like other smartphone pineys
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saw the revolution coming but it fell
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behind as Apple flipped the mobile
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industry upside down with the launch of
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iPhone in 2007
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- Google Android enabled smartphones
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arrived in 2008 with a lot of innovative
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features it's further left Nokia Symbian
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as a traditional OS but it all started
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even before Apple launched an iPhone
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nokia was forced into one of the world's
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largest product recalls after it
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admitted that the batteries in 46
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million phones were faulty well what
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followed after that was something that
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Nokia never imagined would happen
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Nokia slowly started going down in the
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market within just a year
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Nokia reported a 30 percent fall in
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third quarter profits and smartphone
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sales fell by 3.1 percent during the
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quarter while sales of Apple iPhones
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grew by 3 27.5% later Nokia announced to
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cut 1,700 jobs worldwide as a recession
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badly hit mobile phone sayings while
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competitors iPhone and Android based
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devices were posing a serious channels
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to Nokia's future it had to offer for
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desperate measures
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it appointed former Microsoft man Steven
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along as president and chief executive
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of Nokia but despite that Nokia further
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went down as it again fired 1,800 people
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from their jobs later in the year 2011
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Nokia announced a strategic partnership
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with Microsoft to compete with Apple and
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Google's Android platform but still
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things were not falling in place for
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Nokia as in losses of the company
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further widen shares kept falling down
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as it slumped to a 1.3 billion euro
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loans I witness it further cut down
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10,000 more jobs worldwide and announced
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that its last Factory in Finland will
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also be shut down
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[Music]
04:48
later in 2013 Microsoft acquired Nokia
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at 7.2 billion dollars this acquisition
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showed the world there's how far and
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fast
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Nokia fell in the recent years what
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happened to Nokia is no secret Nokia was
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at its heart a hardware company rather
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than a software company attention years
05:08
were experts at building physical
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devices but not the programs that make
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those devices work in the end the
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company profoundly underestimated the
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importance of software including the ABS
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that run on smartphones for better user
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experience it wasn't just that Nokia
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failed to recognize the increasing
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importance of software
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it also underestimated how important the
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transition to smartphones would pay and
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there was another mistake as well
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Nokia overestimated the strength of its
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brand and they strongly believe that
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even if it was laid to the smartphone
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game it would be able to catch up
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quickly and to us even after the iPhones
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release Nokia continued to insist that
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it's superior hardware designs would
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burn over the users
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Nokia never realized that it was digging
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its own grave and ultimately it had to
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succumb to its faulty decisions from
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making rubber boots in a pulp mill to
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leading the world in the mobile phone
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market Nokia failed to meet the
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challenges posed by Android and iPhone
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in 2008 Nokia was believed as one of the
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most valuable brands in the world but it
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failed to recognize that brands today
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aren't as resilient as they once were
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the high-tech era has taught people to
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expect constant innovation when
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companies fall behind consumers are
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quick to polish them late and inadequate
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for Nokia was a deadly combination and
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that's out and undisputable era came to
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a daunting end the closure of the most
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loved electronic brand left millions
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shattered praying for its return ever
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set and as the saying goes if you wish
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for something with all your heart it
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shall come true and Nokia was no
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exception in the next episode of startup
06:53
stories learn about Nokia's rise from
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the dead and its grand return in 2017
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thank you so much everyone for
07:04
suggesting us to do a video on Nokia and
07:07
also feature few stories on how
07:09
companies struggled even after tasting
07:11
success we hope you liked it do let us
07:13
know whose story do you want to see next
07:15
in the comment section below and we'll
07:17
soon have it uploaded on this channel
07:18
for more suggestions and feedback please
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write to us at info at startup stories
07:23
tv.com till then stay motivated
07:34
you