Do you remember the first mobile phone that you owned? Chances are that it was a Nokia. The company from Finland was the number one manufacturer when it comes to mobile phones a few years ago. It was the standard by which all other phone brands were measured. But as years passed by its phones soon became more outdated, until it was soon outpaced by other companies. Now Nokia is in trouble and it would take a lot of hard work and good marketing to make it profitable again.
Losing to the Smartphone Makers
One of the biggest problems faced by Nokia is the way that it is losing its market to the makers of smart phones. Apple and Samsung are the two leading companies now when it comes to making really modern mobile phones. The interesting thing is that they were not big players in the phone market at the time when Nokia was the dominant and the leading company. They just broke into the market and revolutionized the way things are done.
Smaller Rivals Are Hard to Beat
But it isn’t just the giant smart phone makers that are cutting away Nokia’s lifeline. Companies like Huawei or ZTE which are both from China, has taken away a great deal from its market share in developing countries. These smaller companies are able to sell phones loaded with features at fractions of the cost that it would take for Nokia to manufacture something similar. If Nokia decides to go head to head against these smaller phone makers, it is bound to lose since it cannot afford the really low prices of the competition.
The Best Bet to Recover
The best bet of Nokia to recover is in the smart phone market where it could sell phones at a higher price. But in order to do good in this market it would have to convince buyers that its Lumia phones are better than the iPhone5 or all the Android incarnations that are out today. That would be a tough call. In fact it seems that the market is not really enthusiastic with the smart phones from Nokia. They are not giving it the raving reviews that would be needed to convince consumers to check out the products. These days the product reviews can make or break a product, especially when it is a high tech gadget.
Is There Hope for Nokia?
Can Nokia get out of the trouble that it is in right now? It would be difficult thing to pull off since the competition in the market that it is in is quite intense. But if it ever hopes to relive its glory days then it should learn to cut down on its prices and learn to sell phones like its smaller competition are doing. If it cannot adapt to that sort of change then Nokia will just keep on bleeding cash until it would be forced to close shop. Then that would be the end of an era.