Nokia Business Analysis Essay

The beginning of Nokia goes back to the year 1865 with the establishment of a forestry industry enterprise in South-Western Finland by mining engineer Fredrick Idestam. While in the year 1898, the Finnish Rubber Works Ltd was found, and in 1912, Finnish Cable Works began operations. Gradually, the ownership of this two companies and Nokia began to shift into hands of just a few owners. Finally, these three companies were merged to form Nokia Corporation in 1967. Nokia Corporation engages in the manufacture of mobile devices and mobile network equipment, as well as in the provision of related solutions and services. The company has four main business functions or segments: Mobile Phones, Multimedia, Enterprise Solutions, and Networks. (Nokia, 2011) †¢Purpose to study Nokia (appendix 1) Communication plays a very important role in our life. With its large target market, different mobile telecommunication companies have been trying to occupy the markets by offer their latest innovative mobile phones. One of the famous and successful mobile phone manufacturers in the world is Nokia before. However, market leader will be replaced by other competitors. This can be evidenced by their shares of Smart phone (appendix 2) due to the penetration of their competitor. With the emergence of Apple iPhone and Samsung Galaxy today (appendix 1), Nokia should have a great solution to ensure its future success and to gain back the market shares. Although Nokia’s CEO has known what their situation, the management must able to have a change that would sustain Nokia’s competitive advantage and reflecting to customer’s favorite.