Can Nokia Still Make It In The Smartphone Market?
With all the tough competiton around, can Nokia compete in the smartphone market? Nokia has to show the public that it can still make it in the market despite competition.
In a market where Samsung and Apple are enjoying a comfortable spot in the global market, Nokia has to make enough space and itself fit into it. Despite the fact that it has shipped over 70 million phones between December 2016 and 2017, the company’s resurrection is nothing short of remarkable.
Nokia’s recent resurgence came with the launching of the company’s new devices. With its resurrection came Nokia 2, and Nokia 6 smartphones. They are also reviving famous models from the company’s archives, such as the 3310 and the 8110.
Nokia And HMD Global
HMD Global is the company that owns Nokia. They have announced that they were able to raise $100 million in funding from various investment companies. Because of this, HMD Global’s market valuation has increased to over $1 billion, making it an elusive unicorn company.
But Nokia still has many obstacles to overcome. For it to regain its place in the smartphone market, Nokia must first overcome these.
The Dominance Of Apple And Samsung
Market analyst IDC said Samsung and Apple has controlled almost 40 percent of the global smartphone market share. That is for the first quarter of 2018 alone.
It will be hard for other players to operate in this condition. Apple commands fierce brand loyalty while Samsung never stops when it comes to innovation. Samsung first introduced the edge-to-edge display.
Nokia’s Failure In The Market
“Failure to keep up in the market will destroy a brand quickly.” This is what happened to Nokia. It controlled 36.9 percent of mobile phone sales in the global market in 2007. In just a matter of five years, Nokia’s market share had dropped to 19.2 percent. By 2014, competition succeeded in overtaking Nokia.
A Big Challenge For Nokia
With competition dominating the global market, where will Nokia find its place? Japanese and Chinese market have Oppo and Huawei as dominant in their market. And it will be difficult for Nokia to compete with them.
Probably the Indian market can accommodate Nokia. This part of the globe is hungry for the latest in technology. The Indian market is vast, and fast growing, given their large population. India might be a potential cash cow for the Finnish brand, but catering to a billion customers in one territory is not a mean feat.
Nokia’s Move To Succed
It will be hard to take away users from their beloved iPhones and Samsung Galaxy devices. In order to compete with these devices, Nokia has the brand recognition and the intuitive Android One OS to help pull this off. But of course a top-notch hardware is also needed.
People are buying more expensive phones. And it might just leave Nokia room to succeed.
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