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Write a 6 page essay on Nokia Mobil Phone.A set of possible solutions that the company could have adopted have also been set down as recommendations for the company during 2006. The recommendations se
Write a 6 page essay on Nokia Mobil Phone.
A set of possible solutions that the company could have adopted have also been set down as recommendations for the company during 2006. The recommendations set down have been well thought out and is based on the performance of the company, the factors that impacted the business during that stage and also keeping the future in mind.
Firstly, it is important to identify and discuss here the stage of the life cycle model that the company was in during 2006 in the US.
The year 2006 was indeed recognised to be the peek for Nokia Corporation in the US. The company had grown to sell as much as 440 million handsets which contributed to almost 40% of the overall global cell phone sales. The company was then at the pinnacle of success and every product of the company, i.e. the mobile phones as well as the MP3s were all in high demand. The company had seen an increase of 25% for the demand of the phones in the emerging markets (Kharif). The company made a net profit of almost 1.2 billion Euros. The company has also seen a major increase in the revenues in the year 2006. On the whole, the company was part of the growth stage and the company has seen intense growth and development throughout the year throughout the world except in America (Kharif). In the case of America, Nokia has moved from the growth stage and to a great extent has moved closer towards the decline stage. There has been a massive jump in the company’s position in terms of the product life cycle. The years prior to 2006, have clearly been very eventful and successful for the company however, the year 2006 led the company to be left way behind competitors like Motorola. Nokia lacked the style and new trends in the mobile designs and carried on focusing solely on the bar shaped cell phones (Kharif). There was clearly little or no attention paid to the customer
