I saw something more instructive and
provocative.
NOKIA FAILED BECAUSE IT IGNORED
AMERICA!!!
Before then, some quick facts about Nokia.
1. Until its great fall, the company was about 200
by age
2. Started as a Paper Mill
3. Had a global market of 52% and moved down
the share to 2%in about 10 years
4. Was finally bought by Microsoft for 7.2Billion
USD, primarily because of its brand loyalist,
rugged technology, and team
5. Finally sold by Microsoft after one year for 7.6
Billion to a random company.
Yes, Nokia ignored America. And this should help
you quickly: In the third quarter of 2007, Nokia
global market share was 48.7%. At 2010, Nokia’s
global share of the smartphone market dropped
from almost 47% to roughly 38%. Doing well, I
suppose. But let's see something unique: Nokia’s
North America dropped from 3.5% to under 3%.
As at 2010, iPhone approached a market share
of 11% and Android had about 23% globally. But
in the United States, both iPhone and Android
had about 24% and 39%.
BUSINESS LESSONS: Nokia focused more on
reactive innovation rather than predictive
engineering. Its little presence in the US gave
little incentive for real innovation. Have you
heard that your location matters? Yes, it does.
You can be everywhere and be nowhere.
THOUGHT LEADERSHIP: To be an industry
leader, you need to constantly ask a single
question. Where is the Canaan?
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