“Come back of Nokia” Heyy guys, What’s going on? Hope you all are doing well, I am back with an interesting topic.How did Nokia come back in the previous article, We had discussed the reasons behind the failure of Nokia.So, let’s start our topic and we will start with the reasons of failure of Nokia.
Mr.Stephen Elop was the Ceo of Nokia before the failure of Nokia.According to the report of Global media, Stephen Elop was the main reason behind the failure of Nokia.Stephen Elop was the leader with favourable skills but unfavourable will.He was the leader with high competence with low character, Firstly we have to know about Stephen Elop.He was the business internal head in Microsoft before the joining of Nokia as a new CEO.According to the report of Forbes, It was the mind game or a planning of Stephen Elop of failed of Nokia and sell out to the Microsoft.Because the work of any Ceo is to save the company from losses not to sell out.
If Stephen Elop really wanted to save the company then he can do this but he didn’t do this because he wants to join Microsoft again with a post of Ceo.Stephen Elop knew that Nokia had to change its operating system and change them with android but Elop didn’t do this and Nokia had also their own powerful operating system MEE GO. And that time Mee Go doing very well and if Nokia continues with their his operating system then they never failed but Stephen Elop discontinued Mee Go.
Comeback of Nokia-
In the year of 2016, the old employees of Nokia build a new company with a name of HMD global, This HMD global is also made by employees of Finland.And by the help of Ceo of Microsoft Satya Nadela, they bought back Nokia’s buying & selling rights for 10years and they convert from feedback to feed forward.They are improving all the mistakes which are done by them. Like they convert themselves in Android and they also improve their distribution network because, in this market, distribution network plays an important role so they improve their relations with their distributors.
Create no risk model-
As all, we know they have seen a very big defeat that’s why they didn’t want to fall down again and create a no-risk model.They do not want to repeat their mistakes and fault again.They learned a lot from their mistakes.When the time was of Nokia they never built good relations with their distributors and retailers because it used to sell himself at that time they had no need of any promotion or any distribution network at that time.Because only of their brand equity. that time brand equity of Nokia was very high and their phones sell automatically by their name.
Maximum Opportunity Market
In the starting, they are focusing on the 9k-15k budget phone because this budget phone covers the large market share.According to the IDC report, HMD global sold 21 million Nokia phones in third quarter 2017.They grow up very fastly.In last one year, they launched 6 smartphones and 5 featured phones.And almost build 400 distributors and 80,000 retailers.After sale service reached in 300 cities.For any new company, these achievements can be achieved in at least 3-4 years but they achieved in just 1 year because of their brand equity and their Recall Value.