You need to be adaptable to change and monitor trends in your business

“Taking a page from Darwin, ‘It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change.

Nokia’s Roller Coaster Ride: From Top Dog to Underdog and Beyond 🦴

Remember when Nokia was the king of the phone jungle? Ah, the good ol’ days! If you had a Nokia 3310 back in the day, you weren’t just cool; you were practically invincible. That phone could survive a drop from the Eiffel Tower and still play a mean game of Snake ‘📱

Finland, the homeland of Nokia, was pretty much the tech world’s Hogwarts. They were churning out mobile magic. At one point, Nokia was such a big deal that they were responsible for boosting Finland’s GDP by 4%. That’s right, one brand gave an entire country’s economy a lift 🚀

But here’s the twist – enter the smartphone era. Apple rolls out the iPhone in 2007 with all its shiny touch screens and that cute little bite in its logo. Android follows suit, and suddenly, our beloved Nokia started looking like the tech version of a dad trying to dance at a teen party🕺

You see, while the world was swiping and downloading apps, Nokia, with a proud gleam in its eye, was still betting big on its Symbian OS. It’s like sticking to VHS tapes when everyone else is streaming on Netflix. The numbers, oh boy, they started speaking. And they weren’t whispering sweet nothings. Nokia’s market share nosedived from a whopping 50% to a meek 3% in just six years 😒

By the time Nokia teamed up with Microsoft, hoping to unleash a Windows phone wonder, they were already fashionably late to the party. Imagine arriving at a rave at sunrise – it’s kinda like that 😧

And then, the jaw-dropper: Nokia, once the tech titan, sold its phone division to Microsoft. Say what now?! ‘😧

But here’s the juicy bit. Nokia’s wild ride tells us that it’s not just about being the best in the game. It’s about keeping your ears to the ground, eyes on the trends, and always being ready to cha-cha with change. So, the next time you’re feeling all comfy in your success bubble, just remember – there’s always a new dance move to learn! 😉📱💃

Disclaimer: Paul Stankiewicz is the owner and principal at Paul Marks & Co Chartered Accountants which is the trading name of Paul Marks Ltd a Limited Company registered in England and Wales (registered number 4487645).This article is designed for the information of readers only and is the opinion of the author only. Readers should not act on any of the information contained in this article without seeking professional advice. Nothing in this article constitutes advice, nor does the transmission, downloading or sending of any information or the Material create any contractual relationship. Links to third party websites are provided as a convenience to the reader, Paul Marks Ltd does not control and is not responsible for any of those websites or their content. Paul Stankiewicz and Paul Marks Ltd accepts no liability or responsibility whatsoever for any loss or damage suffered by any user of the information contained on or accessed through this article or the Material downloaded.