Gigs’ Post

Innovation vs. Creativity Nokia, once a dominant force in the mobile phone industry, has experienced a dramatic decline. From a market capitalization of $550 billion in 2000, it plummeted to just $18 billion. This decline prompts a critical question: Why did Nokia fail while companies like Apple soared? I tried to analyze why big companies fail to be creative. https://lnkd.in/dGHhe-7d

In an earlier article we have seen the rise and fall of a brand like Yahoo. Let us look at another brand that fell by the wayside and is trying to reinvent itself after they failed to adapt to changing industry calls. The Rise and Fall of Nokia: When A Leader Fails to Adapt At one point, Nokia was the undisputed king of mobile phones, accounting for over 40% of global handset shipments. But the Finnish company's failure to transition into the smartphone era allowed Apple and Android to overtake it. This is a cautionary tale for any business leader. The Rise Nokia capitalized on the mobile revolution in the 1990s by producing robust handsets with superior battery life and reach. Its consumer-friendly handset designs and customizable ringtones made Nokia a iconic brand beloved around the world. It achieved a 40% global market share by 1998. Most of us would have used Nokia handsets at some point of time. The Fall : Nokia was painfully slow to embrace the dual SIM, touchscreen and software innovations ushered in by Samsung, the iPhone and Android soon after. Stubbornly sticking with its aging Symbian operating system, Nokia produced clunky, hard-to-use "smartphone" models that consumers rejected for the slicker iOS and Android offerings. Under new leadership, Nokia finally embraced Windows Phone in 2011 as its smartphone platform. But this "burning platform" reboot came too late. Nokia's market share had already plummeted from dominance to an afterthought behind Apple, Samsung, and Chinese brands like Xiaomi. In 2014, Nokia's handset business was acquired by Microsoft, which itself gave up on Windows Phone soon after. The Lessons Nokia's collapse teaches us valuable lessons: ·        Listen closely to users and change with their needs ·        Identify disruption early and embrace innovation quickly ·        Legacy success and profits can breed complacency - stay hungry ·        Delay in adopting major new tech paradigms is fatal ·        Cultural renewal and fresh thinking is required for major pivots For any business, stubborn reliance on an aging cash cow product opens the door to disruptors who outmaneuver you. As Nokia learned the hard way, companies must evolve or perish in the face of industry shifts.

Continuing the series of failed companies in various industries and illuminating the importance of having a Competitive Intelligence function, I feature Motorola today. Blockbuster, Kodak, and Nokia have been featured in the past few days. Why did Motorola fail? Motorola’s decline in the mobile phone industry can be attributed to several factors: 1. Failure to Innovate Post-Razr: After the success of the Razr phone, Motorola failed to continue its innovation momentum. It relied heavily on the Razr brand for too long without introducing new, compelling products. 2. Competition from Smartphones: As the market shifted towards smartphones, Motorola was slow to respond. Companies like Apple and Samsung quickly dominated this space with advanced smartphones, while Motorola lagged behind. 3. Ineffective Response to Market Changes: Motorola was slow in recognizing and adapting to the shift towards touch screen technology and the importance of software and user interface in smartphones. 4. Management and Strategy Issues: The company faced management issues and strategic misdirection. There were multiple changes in leadership and strategic focus, leading to a lack of consistent vision. 5. Corporate Split: In 2011, Motorola split into two separate companies: Motorola Mobility, focusing on consumer mobile devices, and Motorola Solutions, focusing on communication equipment for businesses and governments. This split potentially diluted its focus and resources in the consumer mobile market. 6. Declining Market Share and Brand Value: As Motorola’s innovations dwindled and competitors surged ahead, its market share and brand value in the mobile phone sector declined significantly. 7. Dependence on the US Market: Motorola was heavily dependent on the US market and did not establish as strong a presence in emerging markets, where much of the mobile phone growth was occurring. 8. Quality and Design Issues: Some of Motorola’s products faced criticism over quality, design, and user experience, which further impacted its competitiveness. 9. Financial Struggles: Due to declining sales and market share, Motorola faced financial challenges, making it difficult to invest in research and development or marketing. 10. Acquisition by Google and Subsequent Sale: Motorola Mobility was acquired by Google in 2012, which was initially seen as a potential boost. However, Google’s primary interest was in Motorola’s patent portfolio, and the synergy between Motorola’s hardware focus and Google’s software-centric approach wasn’t fully realized. Motorola Mobility was later sold to Lenovo in 2014. Motorola’s story is a classic example of a company that once led the market but failed to continuously adapt to rapidly changing technology and consumer preferences.

Global leader to becoming a forgotten mobile brand in no time at all. The Rise and Fall of Nokia Nokia, once a mobile phone giant, tumbled from the top spot, offering a stark lesson for finance enthusiasts: resting on past success can lead to downfall as markets change. It's a stark reminder of the need to adapt to evolving market landscapes. Around 2000, Apple and Samsung, initially small players, transformed the mobile phone world, while Nokia, once a giant worth $250 billion, suffered a disastrous decline and is now worth just $14 billion. In 2007, they shipped 463 million phones, but by 2013, that number had plummeted to only 4.4 million. So, what caused this downfall? 1) Failure to Adapt: Nokia's reluctance to shift from feature phones to smartphones, underestimating the future demand and dismissing Android, cost them dearly. 2) Missed Opportunities: Nokia was slow to embrace touchscreen smartphones and app stores, while competitors like Samsung seized these opportunities, distinguishing themselves in the market. 3) Microsoft Misstep: Nokia's inability to adapt led to selling its handset business to Microsoft, highlighting the importance of agility in business. 4)Marketing Mistakes: Nokia's branding strategy created confusion and weakened brand appeal. An umbrella branding approach could have made a significant difference. 5)Adapting Too Slowly: Nokia became too comfortable with its success as a market leader and didn't keep up with industry changes quickly enough, allowing its competitors to get ahead. 6)Overconfidence: Nokia overestimated its brand value, assuming consumers would stay for better software, but this was a costly miscalculation. Can you think of other examples where companies failed to adapt to changing industry trends and lost their competitive edge? Follow me Aswin Raj M for case studies about the valuable giant companies. #nokia #casestudy #failure #adaptability

This is not a drill. This is the future of phones. A few days ago (17th Jan), Samsung Electronics unveiled the Galaxy S24 series, revealing that it will feature groundbreaking AI features. 🤖🦾🧠 This marks a notable shift in the handset market that comes on the heels of Apple recently emerging as the leading smartphone seller, ending Samsung's 12-year reign. 📱 Samsung 🤝 Google  ------------------------------- Announcing a new strategic partnership with Google Cloud, Samsung has brought advanced AI technology to the Galaxy S24 series. Such a pioneering collaboration makes it possible for Samsung to be the first Google Cloud partner to deploy Gemini Pro and Imagen 2 on Vertex AI, providing cutting-edge AI experiences for customers worldwide. Gemini Pro: Guardian of the Galaxy 🤖  ------------------------------- Gemini Pro, operating on Vertex AI, is a game-changer in multimodal AI technology. Its ability to seamlessly understand and combine various types of information, including text, code, images, and video, marks a pivotal moment in AI integration. Samsung-native applications such as Notes, Voice Recorder, and Keyboard harness the power of Gemini Pro for enhanced summarisation features. This collaboration not only ushers in a new era of AI-driven experiences but also underscores Samsung's commitment to privacy, security, and data compliance through Google Cloud's robust features. 🌐 Why this matters 🔍 ------------------------------- The Galaxy S24 series, powered by AI, is poised to redefine the narrative around smartphone purchases. As AI becomes an omnipresent term in the tech industry, Samsung's focus on meaningful, user-centric AI applications sets it apart. The recent International CES - Consumer Electronics Show 2024 - highlighted the growing trend of companies adopting AI terminology, often attaching it to existing features. Samsung's challenge is not just to introduce AI but to communicate its transformative impact effectively. What happens next 🔮  ------------------------------- The question now revolves around Samsung's ability to break barriers and shift consumer perceptions. Will the innovative AI features be marketed in a way that resonates with consumers? Can Samsung change the conversation and, more importantly, consumer behaviour? 🤔 Well, the Insights Team here at Magpie DBX have been working hard to find out! The latest report on the Samsung Galaxy S24 series delves deeper into how the company is now leveraging AI technology and generating some truly seismic industry shifts. We also take an in-depth look at how Samsung is pricing the Galaxy S24, and how it stacks up against the competition. The full report, which is just part of the sort of things we do, is available exclusively to Magpie clients. 🐦⬛

Global voice assistant market is projected to exhibit a CAGR of over 30% during the forecast period, growing from $ 1.4 billion in 2019 and further in next five years, on account of increasing proliferation of smartphones and advanced features such as ability to recognize different languages, respond via text or voice. Voice assistants are programs that can perform a variety of tasks ranging from placing an order online to scheduling an appointment. Voice assistant has application in various end user verticals, such as Large Enterprise, SME and Individual Users. Download Free Sample Report: https://lnkd.in/dXtjaGj3 (Use your Corporate E-mail Id for Faster Response) Major players operating in global voice assistant market include Google Inc., Amazon Inc., Apple Inc., Microsoft Corp., Samsung Group, Orange S.A., Nuance Communications, Sony Corp., Alibaba Group Holding Ltd., Motorola Solutions, Inc., Next IT Corp., etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For More Information Visit: https://lnkd.in/dKYSRii3

🔍 Unveiling insights from the DBX Intelligence analyst desk! The telecom industry witnessed notable shifts already this year, with Apple dethroning Samsung as the leading smartphone seller after a 12-year reign. Just days ago, Samsung Electronics responded with a groundbreaking move – unveiling the Galaxy S24 series, a smartphone range powered by AI, poised to redefine the narrative around smartphone purchases. 📱🤳 Our latest insights report dives deep into how Samsung strategically leverages AI to reshape smartphone experiences. 📊🔍 It's not just about introducing AI; it's about effectively communicating its transformative impact. Observing the trends at the recent International CES 2024, we recognize the market's transformative journey driven by evolving technologies. However, the inundation of AI concepts adopted by various companies presents a unique challenge. Samsung now faces the task of effectively communicating the transformative impact of its innovative AI features in this dynamic landscape. 🌐🗣️ Our dedicated team has tirelessly worked to understand and analyze this landscape – the question now is, can Samsung break barriers and shift consumer perceptions? 🤔 For our Magpie clients, our comprehensive report delves even deeper, exploring Samsung's pricing and promotional strategy, industry shifts, and how the Galaxy S24 stacks up against the competition. 📊💼 Exciting times in the tech world, and we're proud to be at the forefront of understanding and sharing these industry-shaping developments! 🌐🔍 #InsightsTeam #SamsungGalaxyS24 #DBXIntelligence

Nokia, a Finnish multinational telecommunications company that was once the world's largest mobile phone manufacturer. In the early 2000s, Nokia was a dominant force in the mobile phone industry, with a market share of over 40%. However, with the introduction of the iPhone in 2007 and the subsequent shift towards smartphones, Nokia's leadership was slow to adapt to the changing market. Nokia's existing organization structure, which was highly successful in the past, became a hindrance to innovation. The company was organized in a way that #prioritized engineering and #hardware, while #software development was scattered across different divisions. This structure made it difficult for Nokia to respond quickly to the growing demand for more sophisticated software and user experiences in smartphones. Despite recognizing the need for change, Nokia's #leadership was hesitant to make significant changes to the organization's structure, fearing it would disrupt their existing business model and success. As a result, the company was slow to embrace the smartphone revolution and develop competitive products. By 2013, Nokia's market share had fallen to less than 3%, and the company sold its mobile phone business to Microsoft. The failure to adapt its organization structure to meet the changing demands of the market ultimately led to Nokia's decline in the mobile phone industry. Nokia's story serves as a reminder of the importance of being open to change and adapting organizational structures to stay competitive in a rapidly evolving market. Leadership must be willing to embrace new strategies and approaches, even when it means making significant changes to existing business models or organization structures.

Remember back in the early 2000s when Motorola was THE mobile phone brand? Everyone wanted their iconic RAZR, endorsed by stars like Paris Hilton. Motorola was unstoppable... until they weren't. They made a billion-dollar mistake. Like Blockbuster, Kodak, and so many others, they failed to take action when it mattered most. Motorola missed the smartphone revolution, and in a few short years, they went from hero to zero as BlackBerry, Apple, and Samsung took over. Thousands of popular businesses and countless small ones have failed for the same reason: not taking action. I see it happening again. AI is here to stay, and while some are hesitating, your competition is already integrating this game-changing technology. Those who take rapid action in business are always the most successful. They’re already gearing up for Q3 2024, ready to capitalize on the influx of new clients with systems and automations in place, so they won’t have to burn the midnight oil. Can you say the same about your business? If not, there’s still time to pivot and gain momentum for Q3. But only if you’re ready to take massive action. Next week, on June 18th, I’m hosting a free workshop on building a conversation funnel that turns leads into buyers. I’ll break down the psychology, frameworks, and systems needed to get results before you close out Q2. Plus, I’ll show you how to turn ads on to feed your conversation funnel. First task: RSVP for the workshop. Only RSVP if you’re ready to put in some hard and fast work. Go here to Register if you want to join me live on Zoom 👉 https://lnkd.in/ecgd66ms

Mobile Mania in Numbers! 🚀 The new update from Ericsson mobility report Q2 2023 gives us glimpse on what is going on in the ever-growing mobile industry. 1. Data Surge: Mobile data usage shot up 33% in just a year! In Q2 2023, we hit a whopping 134 EB/month. That's equivalent to over 5 million years of non-stop movie-watching! Although the overall traffic growth rate is reducing, numbers are still astronomical. 2. Country Spotlight: India's the superstar, adding at a rate of 7 million subscribers per Quarter. China and the US trailed with +5 million and +3 million per quarter respectively. Who's up for Bollywood on their smartphones? 3. Subscription Overload: 8.3 billion mobile subscriptions globally! That's more phones than humans. Someone's definitely double-fisting smartphones. 4. Speed Demons: Most of us crave speed, with a jaw-dropping 88% of all mobile subs being broadband. And 5G? It's catching on fast, gaining 175 million newbies this quarter and reaching 1.2 billion subscribers. 5. Old but Gold: Let's not forget 4G. It's still the kingpin with 5.2 billion users. Not too bad eh? The future? Blazing-fast, data-hungry, and full of potential. 🌍📱🚀 https://lnkd.in/gYpr-mEH