Beleaguered Nokia implodes, taking Microsoft’s mobile dreams down with it

“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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Beleaguered Nokia to axe 20% of workforce, close only plant in Finland; stock crashes – June 14, 2012
Microsoft’s Nokia Lumia says the best smartphone is Apple’s iPhone – May 14, 2012
Fox News reviews Microsoft’s Nokia Lumia 900 Windows Phone: ‘Disappointing’ (with video) – May 12, 2012
Beleaguered Nokia hit with class-action lawsuit over weak Lumia Windows Phone sales, deteriorating market share – May 4, 2012
Beleaguered Nokia dumps sales chief as Lumia Windows Phones flounder, promises more cost cuts after Q1 loss – April 19, 2012
Euro carriers: Beleaguered Nokia’s Windows Phone not good enough to compete with Apple iPhone or even Samsung phones – April 17, 2012
Mossberg reviews Microsoft’s Nokia Lumia 900, can’t recommend it over superior iPhone 4S – April 5, 2012

49 Comments

  1. wow.
    how sad.
    so may jobs lost.

    but
    stop blaming Apple!!
    since when is doing your best sinful?
    if no one can handle Apple’s competition, so be it.
    it sure as hell is not Apple’s fault!

    Apple is involuntarily, consequentially the world’s catalyst for Economic Tsunamis!

  2. Stop blaming Apple for your demise or stupidity.
    every casualty is not due to Apple but self-inflicted.
    it’s neurotic, lazy to think otherwise.

    like Madonna taught us: “Are you afraid of who you are”
    like Michael Jackson taught us: look at /blame yourself “Man in the Mirror”
    like Nike taught us: “Just Do It”
    like Audi taught us: Lead. Don’t Follow.
    like Apple taught us: surveys are useless, create something new, if behind – leapfrog (your competitors)!
    like Apple taught us: “Think Different” and “It’s the Crazy Ones, who think they can change the world (for the better), that do”
    like Nietzsche taught us: “God is Dead” – meaning: stop bitching – be your own deity, create your own Epic Shit

    amen!

  3. But Nokia and Windows Phone were going to triumph over the smartphone market!

    What happened? Could the viral marketers I heard this from have been wrong?

  4. “What happened?” Blodget writes.” The iPhone happened.”

    “PC guys are not going to just figure this out. They’re not going to just walk in,” — Ed Colligan, 2006, CEO of the now-deceased Palm.

    “500 dollars? Fully subsidized? With a plan? I said that is the most expensive phone in the world. And it doesn’t appeal to business customers because it doesn’t have a keyboard. Which makes it not a very good email machine… I like our strategy. I like it a lot.” — Steve Ballmer, 2007.

    Swirling the bowl…

    Schadenfreude. So tasty.

  5. Frack Microsoft. This is a great event from that point of view.

    But I was hoping Nokia would step up and actually COMPETE with Apple. As I am ever saying: Apple requires competition! Watching all these wannabe companies hit the skids is getting depressing and does not bid well for the future. A monopolist Apple is not a good thing. Even if that does not happen, I don’t want to watch only Apple coming up with seriously innovative technology. What the frack has happened to innovation in the rest of the industry?!

    Get moving new innovators! Your services are required right NOW!

    Oh and Samsung: FRACK OFF and die already, simpering little ripoff roaches.

  6. 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.

  7. 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!

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