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Strategic Plan for the Intended Growth of Nokia Essay

Assignment id 1011336
Discipline Writing
Assignment type Essay
Words 2238
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Introduction In 1967, Nokia Corporation was founded by Fredrik Idestam as the consequence of three Finnish Companies. It's multinational company, which is headquartered in Keilaniemi, Espoo (Nokia: In Brief, 2008). Presently, Nokia has covered the telecommunications and internet sector of over 120 nations with over 123000 employees. In the end of fiscal year 2009, the global revenue and operating income of the firm 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 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 entire revenue of the business is generated from its mobile device business and in spite of the current downward trends of the market, it control approximately 1 third of the international market share (Nokia Corporation, 2010). Like the world has changed and numerous innovative technologies are introduced in the telecommunication industry, the amount of competition has become very significant. Although the market of telecommunication is still growing but it is essential for Nokia Incorporation to implement innovative strategies to attain 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 around the world. The customers are extremely pleased 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...

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