Nokia, the Finnish multinational telecommunications company, has undergone significant changes in recent years to reshape its company strategy and brand. This article will discuss Nokia’s renewed operating model and its four business groups, the company’s focus on smart home and connected devices, and the challenges it faced with its previous Symbian platform.
Nokia’s renewed operating model, as outlined in its 2021 strategy, is designed to enable the delivery of its strategic ambitions. The model involves a lean corporate center that enables fully accountable business groups, with each group aiming to become a technology and market leader in its respective sector. Nokia’s four business groups are Mobile Networks, IP and Fixed Networks, Cloud and Network Services, and Nokia Technologies.
Nokia’s focus on smart homes and connected devices is evident in its strategy to build brand partnerships and grow brand value by developing new brand licensing opportunities in these areas. This move is in response to the increasing demand for connected devices and the growth of the Internet of Things (IoT) market. By expanding into these areas, Nokia aims to leverage its existing technology and expertise to drive growth and innovation.
However, Nokia faced challenges with its previous Symbian platform, as it was not user friendly and could not adapt well to the expectations of a modern user. This led to a decline in Nokia’s market share and a loss of its position as a dominant player in the mobile phone industry. Nokia has since shifted its focus to new technologies and platforms, such as its partnership with Microsoft to develop Windows Phone and its current focus on 5G technology.
In conclusion, Nokia has reshaped its company strategy and brand to focus on smart homes and connected devices, as well as 5G technology. Its renewed operating model aims to enable the delivery of its strategic ambitions through fully accountable business groups. While Nokia faced challenges with its previous Symbian platform, it is actively adapting to changing market demands and leveraging its existing technology and expertise to drive growth and innovation.
