Nokia Under New Management
The giant mobile phone maker is currently in troubled water. Although recent reports by the IDC indicate that Nokia is still the world leader in making mobile phones, they are at risk of losing that stature. With other companies such as RIM, Apple and HTC making headlines producing numerous models of smartphones, it is interesting that Nokia has not managed to make a difference in this field. The company has not made as much of a dent in the smartphone arena as compared to their competitors. Over the past years, the company has already lost at least a quarter of their original value in terms of shares. Hopefully, the new management will be able to produce the same great Nokia products as the company did in the 90s.
Nokia has already been through two major restructuring processes over the past seven months. Their first major reshuffling was last November while the other was reported just a few days ago. According to the company’s CEO Olli Peka Kallasvuo, “Nokia’s new organisational structure is designed to speed up execution and accelerate innovation.”
Some of the major issues that the company is facing deals with their current product line. Consumers argue that Nokia has somewhat lost touch with their target markets. They have yet to produce a smartphone that will make consumers turn their heads away from the competition. The company keeps on claiming that they are in the process of producing better touch sensitive screen technology for their devices but the results of their research and development are yet to be found. Their designs have not changed much from their heyday years. Analysts state that in order for Nokia to get back on track, they should ditch the Symbian as a reliable OS for the smartphone. Only results of the market share will tell whether their shift to the MeeGo and Symbian OS will be successful.Nokia