Strategy of Nokia for New Product Development Essay

1037 Words 5 Pages
Strategy of Nokia for New Product Development

Introduction

Founded as a paper mill company in Finland back in 1865, Nokia has evolved into a diversified industrial company by merging with Finnish Rubber Works (establish in 1898) and Finnish Cable Works (establish in 1912) in 1967. Since then, the company has been known as Nokia Corporation and become the world largest mobile phone company. Eastern and western Europe are the main market until the liberalization of trade with former Soviet bloc started which led to increased the competition for Finnish companies. Therefore, Nokia looks to expand globally and finally become a key global player in the telecommunications industry.

The company introduced their first handheld phones,
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In addition, Nokia also provides supporting hardware accessories such as Nokia Wireless Charging Plate and Nokia Wireless Charging Pillow by Fatboy, JBL PowerUp Wireless Charging Speaker for Nokia and Nokia Wireless Car Charger.

In the US, Nokia had an exclusivity agreement with AT&T as the only carrier in US carries Lumia 920 until May 2013. Unfortunately, this exclusivity does not really helping Nokia to increase their sales since their competitor HTC has launched a new Smartphone called HTC 8X and made it available on multiple carriers. Nokia may lose potential consumer from another carries that refuse to switch to AT&T.

Conclusion

In competing with other major smart phone manufacturer as Apple, Samsung, Blackberry and Motorola, Nokia really needs to improve a lot in terms of software and hardware on their product. Nokia may take Lumia 920 as their benchmark in developing a new competitive Smartphone in the future. Creating unique and exclusive applications for Nokia users, will add another value for Nokia compared to other rival especially to those are using Windows platform such as HTC.

Apart from the development of their product software and hardware, Nokia should never take a marketing campaign for granted. An interactive and aggressive marketing campaign may help to boost their sales. Last but not least, Nokia also should

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