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Strategic Plan For The Intended Growth Of Nokia

3001 words - 12 pages

In 1967, Nokia Corporation was founded by Fredrik Idestam as the result of three Finnish Companies. It is multinational company, which is headquartered in Keilaniemi, Espoo (Nokia: In Brief, 2008). Presently, Nokia has covered the telecommunications and internet industry of more than 120 countries with over 123000 employees. At the end of fiscal year 2009, the global revenue and operating income of the company were EUR 41 billion and €1.2 billion (Nokia Corporation, 2010).
The cellular industry can be divided into two parts: the mobile handsets and the cellular infrastructure. Nokia had its presence in both of these segments but was able to achieve much of the success in the handsets segment (Nokia Now: 2000 to Today, 2009). About 80% of the total revenue of the company is generated from its mobile device business and in spite of the current downward trends of the market, it control approximately one third of the global market share (Nokia Corporation, 2010).
As the world has changed and numerous innovative technologies are introduced in the telecommunication industry, the level of competition has become very high. Although the market of telecommunication is still growing but it is necessary for Nokia Incorporation to implement innovative strategies to achieve competitive advantage over its competitors.
SWOT Analysis
Strengths of Nokia: Nokia is an International brand is famous for the quality and innovative mobile phones all over the world. The customers are very happy with its product line its raises their social standard (Nokia Now: 2000 to Today, 2009). It has captured more than 33% market shares of the world telecommunication industry (Steinbock, 2001). The strong financial resource has enabled innovative product line and services of the firm to become a leading player. At the end of fiscal year 2007, company had gained 50% revenue from Africa/Europe/Middle East, Asia-Pacific, whereas 20% from Asia Pacific, 10% from North America, 10% from Latin America, and rest 10% from China. The largest market of Nokia comprises UAE, China, US, USA, Brazil, Russia, India, etc. (Lovelock, 2008). The products of the company are preferred by the customers because these are based on research and survey of more than 400 enterprises mobility users (Reuters Report, 2007).
Effective CRM and Customer services of the company also make its strong in the market. Satisfaction of the customers is the main objective and company provides 24*7 hours services to the customers through its online customer services centre (Kerin, Hartley, Berkowitz & Rudelius, 2006).
Weaknesses of Nokia: One of the biggest weaknesses of the company is the failure of the game released by Nokia N-Gage Mobile series. This failure has provided opportunity its competitors to become powerful than Nokia (Kerin, Hartley, Berkowitz & Rudelius, 2006). High involvement of Nokia in Symbian has damaged the reputation of the firm in the eyes of the customers (Bloor, 2002). Nokia is...

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