Nokia telephone company Essay Example | Topics and Well Written Essays - 2500 words

Nokia telephone company - Essay Example It has also partnered with recording artists to provide music to its customers through the internet. The company faces several challenges currently. However, its management team has formulated and implemented strategies to keep the company relevant in the market. We live in a generation where technology has become part of human life. This compels Nokia to conduct regular market research and advance its products and services to attract and retain its customers. The following discourse is on the Nokia Company in terms of its business strategies and management. Company statistics Currently, the company has over 100,000 employees in more than 100 countries. Forbes magazine placed it as the second largest mobile phone company with an estimate of over 30 billion Euros in market dominance. Besides, it has an estimated market share of 22% by the beginning of this year. Nokia was the largest mobile phone company in the entire globe, between 1997 and late 2012, before Samsung took over. The co mpany suffered a great business setback when its global market share dropped due to the emergence of several smart phones and iPhones in the market. The company partnered with Microsoft to incorporate windows in its latest smart phones. Its market research indicates that the company lost several customers to Apple and Samsung whose smart phones and tablets have Android as the operating system. Nokia phones had the Symbian operating system and this was considered slow and unreliable (Marks 207). Brief history of Nokia Telephone Company The company was established in 1865 by Fredrik Idetam as a paper mill factory in Tampere. Three years later, another pulp mill was built in a small town named Nokia which about fourteen kilometers from the first pulp mill. Idetam and, his close friend and business associate, Mechelin (electrician) changed the initial pulp mill industry into a partnership company and named it Nokia, and that is how the company’s name came about. Later, the compan y resorted to electricity generation and expanded its operations by selling more shares to the public. The company expanded its business further by partnering with neighboring associates like Finnish rubber works among others. In 1912, the companies combined their resources to venture into the production of electrical and telephone cables. The company had to reshuffle its management team to avoid going bankrupt after the First World War I. At the time, Verner Weckman became the chairman and used his peculiar business management skills to attract more companies and form Nokia Corporation by the end of the year 1967. The company produced a wide range of products including cars, rubber, paper products, and personal computers among others. Later, some companies split from the parent company (Marks 207). Nokia specialized in telecommunication products in the year 1970. The company first produced Nokia DX 200 which was a kind of switch used to control telephone communications. The company advanced its products with time to the current smart phones and tablets. It became the largest mobile phone company until 2012 when Samsung, through its most preferred android mobile operating system, took over. Nokia had to conduct a market research and ascertain its weaknesses. It later partnered with Microsoft to produce windows mobile phones. Research is still underway to ascertain the