“The once-great Finnish cell-phone giant Nokia is now undergoing one of the most spectacular implosions in the history of business,” Henry Blodget writes for Daily Ticker. “Several years ago, Nokia was the undisputed heavyweight champion of the world when it came to making phones. Now, the company is frantically cutting costs and downsizing in a desperate bid to survive.”
“What happened?” Blodget writes.” The iPhone happened.”
Blodget writes, “In the five years since Apple released its first iPhone, Nokia has lost a staggering 90% of its market value… Because Microsoft and Nokia are now in bed together, moreover, Nokia’s problems have become Microsoft’s problems. Microsoft is desperate to regain some of the ground it has lost to Apple and Google in smartphones. But its one major global partner, Nokia, is now drowning. So that puts Microsoft back at square one again.”
Read more in the full article here.
MacDailyNews Take: Verilöyly.
[Thanks to MacDailyNews Reader “Tayster” for the heads up.]
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In just five short years, Nokia has fallen from a 90% market share to irrelevance.
That is remarkable!
If this can happen in mobile, it can happen on the desktop.
Microsoft is probably too arrogant to think it could happen to them, and it will likely take longer, due to their deeper pockets and entrenchment, but this shows that not only is it possible, but Apple is the company that can do it.
MS had better start praying that Win8 is something of a hit.
What I find interesting, is the new style of the Nokia Lumia & how it looks nothing like an iPhone, with a completely new design! This shows you can have a different look without the need to copy. Then you have Samsung, who, well, say no more!
I like our strategy. I like it a lot.