There are many who blame that the core reason Nokia failed was hiring a CEO (Stephen Elop) who was North American, as Nokia never had a strong presence in North America. Hence, Mr. Elop never really understood the brand power of Nokia in India. In countries like India the name Nokia guaranteed a quality product.
So, when time came and he became CEO, he didn’t take the Android route as he thought that it was too late and there are already too many fishes in the pond, he worked on windows. He also scraped Meego which was a genuinely good platform.
He never got to know that Asian and European markets were eagerly waiting for exactly an android phone from Nokia, that could do everything others could. But, these people, they got a product which was anything but perfect and so unfamiliar that they didn’t recognize their Nokia anymore, therefore Nokia lost the emotional link with all it’s customers on to other brands just because its CEO never actually understood that connection.
He decided to force feed to Nokia consumers a Window operating system even though the trend was changing towards Android and even app developers were shifting that way.
They basically were so caught up on doing innovation of their own kind that they couldn’t comprehend the market Trend.
I believe Samsung cleverly tapped into every category of market in the right time. An Android phone by Nokia could have easily been more successful than Samsung’s Android phones, if executed correctly, like Samsung did.
In a press conference about the announcement of Nokia being acquired by Microsoft, Nokia CEO at the end of his speech said, “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, teared sadly.
Nokia wass a respectable company. There wasn’t any specific mistake that they did, it’s just the world changed too fast for them to catch up.
They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.
The message i believe from this is, if you don’t change, you shall be removed from the competition.