Tell u later - Lab Report Example

The company has faced several political issues that have deteriorated its financial position and brand image among its peers. The major competitors of Nokia are Samsung, Apple, LG and Sony. These companies operate in the Android platform apart from Apple. The rapid growth of Samsung has allowed it to reach the leading position which was once owned by Nokia for a long period of time. Nokia has high potential in the windows tablet market owing to the recent rise of windows tablets’ popularity.

The business deal with Microsoft has allowed Nokia to have a strong financial background that can be leveraged to finance the future innovations. In order to improve the current condition of Nokia, the company must introduce new technology and innovative products like smart watch or other wearable devices to gain a competitive advantage over its rivals. Nokia Corporation is best known as the manufacturer of mobile handsets in the global market. The company is headquartered in Finland, owns production plants in 8 countries and operates in more than 120 countries (Marketline, 2014a).

The company also manufactures network and location based equipments for third party companies. The company owns three major business divisions, the devices and services, network solutions and location based services under the brand HERE. The devices and services section offers mobile phone devices including smart phones and other low end feature phones. The network solution section offers telecommunication solutions targeted at the global mobile broadband industry. It includes 3G, 4G and LTE services along with customer experience management.

HERE offers customized GPS and location based services for application developers, automotive companies and device manufacturers (Nokia, 2014). The global mobile phone market has grown significantly over the past few years. As of 2013, the mobile phone market earned revenue of $163.4 billion, which represents a growth of