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Nokias Smartphone Problem - Essay Example

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The present essay "Nokia's Smartphone Problem" dwells on the marketing problems Nokia experiences nowadays. As the author puts it, Nokia faced severe threats in the market during the years 2009 and 2010. The steady slide in its smartphone market appears to be the most potent threat to Nokia…
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Nokias Smartphone Problem
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"Nokias Smartphone Problem"

Download file to see previous pages 2. Recently, Nokia almost lost the high end of the market to Apple, RIM, and Samsung. The company also faces severe competition from Chinese manufacturers which challenges the firms’ low market end operations also. Market reputation is a valuable asset to the company while it vies with its aggressive competitors. The company sells high volumes of low-cost devices to the developing markets. The wider territorial coverage of the company is also a competitive advantage to Nokia. The company’s large number of acquisitions may also become an asset while it addresses market rivals.
3. As discussed earlier, Nokia faced considerable sales decline over the past three years and this situation reduced the firm’s profitability. It is necessary to take some short-term actions rapidly so as to overcome this unpleasant business condition. It is recommendable for the company to spend more on product research and development since modern consumers are always attracted towards changes. Similarly, the company must formulate some effective strategies to minimize its cost of production as it would be beneficial for the company to set lower prices for its handsets. It is also suggestible for the company to maintain an efficient market researchers’ team that may explore market preferences and specifications.
4. Although Nokia has spent a significant amount of money both on acquisitions and researches and development, it could not take many advantages of this spending. According to O’Brien, while examining Nokia’s acquisitions strategies, it is obvious that the company overplays for acquisitions regardless of what it really needed. It is also identified that the company gives higher emphasis on control rather than leverage while dealing with acquisitions; this policy would hurt the company in its long run. ...Download file to see next pagesRead More
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