Strategic Plan for the Intended Growth of Nokia

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Introduction

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 pr...

... middle of paper ...

...kia's Strengths with Regards to Technology, User Sentiment and Market Impact DUBLIN, Ireland’, viewed June 12, 2010

Samsung Electronics 2009: Annual Report, 2009, December, viewed June 12, 2010

Steinbock, D., 2001, The Nokia Revolution: The Story of an Extraordinary Company That Transformed an Industry, New York: American Management Association.

Wilson, R.M.S. & Gilligan, C., 2005, Strategic Marketing Management: Planning, Implementation and Control, 3rd Edition, Butterworth-Heinemann.

Zeman, E., 2008, September 5, ‘Nokia's Biggest Strength Is Its Biggest Problem’, viewed June 12, 2010

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