Marketing Strategy and Success of Nokia Term Paper

Marketing Strategy and Success of Nokia - Term Paper Example The Finnish company Nokia has gone through significant transformational changes since its inception over 150 years ago. Growing from a small company to a mobile phone manufacturing giant that is today, Nokia has had difficulties in its growth process. Venturing into different industries, Nokia has over time managed to survive through the years. The company has engaged in businesses such as rubber boots manufacturing, car tires manufacturing, and even TV sets (Harms, et al p. 132). Over time, Nokia has grown to become the biggest cell phone manufacturing company it is today connecting over 1.3 billion people globally through its handsets and the recently launched smartphones (Stole 2006, p. 6). Â  The company sells its products in about 150 countries globally and directly employs about 101,982 people in about 120 countries. Despite the company’s success in the cell phone business and its market leadership, it is fast losing to other more innovative and competitive companies su ch as Samsung and Apple. According to Williamson (2012, n.p.) in some of the traditionally markets known as Nokia’s dominant markets such as Europe, its own home country, the company is fast losing to its biggest rival Samsung. The loss of the smartphone business for the company has contributed to the slump in the company’s revenues. The company’s recent reduction in its profitability and revenues can attest to this trend in business (Chikezie 2011, p. 6). In an effort to win back its lost market share, Nokia in 2011 got into a partnership with Microsoft in order to manufacture smartphones running on a windows operating system (Wingfield 2013, web). However, the deal did not pay off much, as Microsoft finally acquired Nokia, hence taking over the business as part of a Microsoft business. This is in a bid to help the company regain its market through different management. However, this proves unlikely, if Nokia’s strategy does not focus on low-end phones.à ‚