Nokia CEO, “We didn’t do anything wrong, but somehow, we lost”.

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Nokia was one of the world’s biggest and most successful mobile phone manufacturer, in fact, over half of the world’s mobile phones are Nokia phones, but then it was been acquired by Microsoft (who then rebranded the company into Microsoft Mobile).

Nothing last forever. In 2010 the mobile phone giant started to downhill path, and only within a span of few years, the world’s mobile phone giants now has a market share of only 3%.

They didn’t do anything wrong in their business, however, the world changed so fast. They tight competitor was too powerful. They missed our on the learning, they missed out on changing, and because of it, they lost the opportunity at hand to make their company even bigger. They did not survive the competition.

In an article published in Linkedin posted by Ziyad Jawabra, he said that while Nokia technically did nothing wrong, it was their refusal to change and learn new trends that ultimately lead to their demise. He noted:

“They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.”

Jawabra also stresses that if a certain company doesn’t know how to embrace change, it will eventually be eliminated by new competition down the line, he says:

“The advantage you have yesterday will be replaced by the trends of tomorrow. You don’t have to do anything wrong, as long as your competitors catch the wave and do it RIGHT, you can lose out and fail.

To change and improve yourself is giving yourself a second chance. To be forced by others to change is being discarded.

Those who refuse to learn & improve, will definitely one day become redundant & not relevant to the industry. They will learn the lesson in a hard & expensive way.”

An article published by Linkedin says:

Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”.

During the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, teared sadly.

Nokia has been a respectable company. They didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too powerful.

They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.

The message of this story is, if you don’t change, you shall be removed from the competition.

It’s not wrong if you don’t want to learn new things. However, if your thoughts and mindset cannot catch up with time, you will be eliminated.

Conclusion:
1. The advantage you have yesterday, will be replaced by the trends of tomorrow. You don’t have to do anything wrong, as long as your competitors catch the wave and do it RIGHT, you can lose out and fail.

To change and improve yourself is giving yourself a second chance. To be forced by others to change, is like being discarded.
Those who refuse to learn & improve, will definitely one day become redundant & not relevant to the industry. They will learn the lesson in a hard & expensive way.

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