Analyse the case study below and answer the following questions:

Nokia, a company founded in Finland was the first to create a cellular network in the world. In the late 1990s and early 2000s, Nokia was the global leader in mobile phones. With the arrival of the Internet, other mobile companies started understanding how data was the future of communication. Nokia didnt grasp the concept of software and kept focusing on hardware because the management feared to alienate current users if they changed too much.

Nokias mistake was the fact that they didnt want to lead the drastic change in user experience. This caused Nokia to develop a mess of an operating system with a bad user experience that just wasnt a fit on the market.

The company overestimated the strength of its brand and believed they could arrive late in the smartphone game and succeed. In 2007 Steve Jobs launched the iPhone, a phone without a keyboard, which was revolutionary at the time. In 2008 Nokia finally made the decision to compete with Android, but it was too late. Their products werent competitive enough.

Discuss:

1. What were the strategic failures of Nokia?

2. According to your opinion, what should be the current strategy so as to bring it back to its old place.