Essay Vertu: Nokia's Luxury Phone

Nokia Corporation is the world's largest manufacturer of mobile phones, serving customers in 130 countries. Nokia is divided into four business groups: Mobile Phones, Multimedia, Enterprise Solutions, and Networks. The Mobile Phones group markets wireless voice and data products in consumer and corporate markets. The Multimedia segment sells mobile gaming devices, home satellite systems, and cable television set-top boxes. The Enterprise Solutions group develops wireless systems for use in the corporate sector. Wireless switching and transmission equipment is sold through the company's Networks division. Nokia operates 15 manufacturing facilities in nine countries and maintains research and development facilities in 12 countries.. Originally

“We always keep on pace with the demand of our end customers, delight them through continuing maintain a close relationship between manufacturing, ongoing Research and Development as well as working closely with supply chain and outsourcing partners, to provide cost-effective, high-quality Smart phone, wireless devices and software to our customers, internationally. Constant Training and Development program and strong culture practices are held to motivate the employees, also, to ensure infinite innovation and creation come out from them. Most importantly, offer attractive

However that in 2007 the market of Nokia Company started to decrease and the reasons for that is the new competitions like IPhone from Apple that introduced smartphones, along with Android by Google, and Samsung. Even though Nokia Company results for 2012 were pre much good by having 101982 workers across 120 countries along with sales in more than 150 countries, and the reports for revenue were around 30€ billion. Nokia was announced to be the second largest world for mobiles phone makers in terms of unit sales after Samsung, with having world wide market share 18.0%. However that Nokia Company for current days has 3.2% in smartphones and they lost 40% of their revenue in mobile phone in Q2 for 2013. Nokia was listed in fortune global 500 to be world’s 274 largest companies for 2013 from revenue sides. So Nokia Company has good products, services, and reputations. Knowing that their products are good and have nice services, yet comparing to others like Samsung and Apple they are weak because those provide an outstanding products and services which consist of smartphones. So Nokia want instead of providing a good services and products to become like their competition and provide an outstanding products and

It established in 1871 and it is very old company. It was one of the biggest company in world in that time and it competition with other companies who is produce cell phone. The main product is cell phone. Nokia Company produce a lot types of mobile phone and different from other. There are phones with big screen and other with small screen. Also, they have phone with keyboard and other without it work by the touch. Also, Nokia Company provide other services which are internet services such as applications, music, digital media and messages. Nokia offers digital mapping and navigation

Good articulation of a strong and unsatisfied consumer need in the mobile phone network market, which almost makes one want to say “I want this now”!

Nokia’s aggressive strategy to dominate mobile communication cluster would be the main reason how Nokia could become a world leader in the sector among other reasons. Nokia’s passion for mobile communication industry was great enough to give up more than 40% of its revenue in is pre-owned communication industry to concentrate only in mobile communications. Nokia was also lucky enough to see the possibility of mobile communication early enough to predominate the industry and prevent any competition from

One of the greatest things about Nokia is that they create technology that connects people all over the world from coding theories to saving energy and more. Future star trek ideas are closer because of companies like Nokia and the people who work for them. Nokia, which is a truly worldwide company, has over 160 nationalities, who are working in over 100 countries and coming up with new and better ways to help society by expanding on the human possibilities by using future technology. Nokia words about sustainability. We create the technology to connect the world, in a responsible way. Together. We invent, design, and deploy sustainable technologies that make a real difference to people’s lives, and take responsibility for the impact we can make in the world. (Sustainability) The people of Nokia are so focused on finding ways to solve real-world need, that they are spending over five billion dollars on research and development in

Nokia, headquartered Finland was a global telecommunications equipment manufacturer operating a luxury mobile phone brand called Vertu, founded by Frank Nuovo in the late 1990s, which pioneered the luxury mobile phone market by using precious materials such as diamonds, sapphires, titanium and exotic leather for phone production. (Kwong-Kay Wong, 2011). In 2002 when Vertu launched the world’s first- ever luxury phone, the Vertu Signature. At that time, the global luxury mobile phone market was considered a niche, but a fast growing one. In less than a decade, annual sales revenues had grown to US$11 billion in 2009 and it was estimated to exceed US$43 billion in 2013 on a global basis (Kwong-Kay Wong, 2011).

From Nokia’s vision and mission statement it can be inferred that Nokia wants to be known for its credibility and to be a market leader again as it was before the year 2007 (Kess, 2014). Nokia understands that the company has to use innovation to offer products that are not yet

Vertu was a pioneer in the luxury cell phone market and has positioned itself as the top-of-the-line targeting high-net-worth individuals. Vertu accomplishes this by using only the finest materials to manufacture their products which are all handcrafted ensuring that every product is of perfect quality. Vertu will release different collections each featuring different materials and designs which make the collections unique and prestigious; their most expensive line ever was the

During this period in the year 1977 Nokia selected a new Chief Executive Officer (CEO) Kari Kairamo who has new ideas about the growth of Nokia in international market. Under the leadership of Kari Kairamo in 1979 Nokia took its first step into joint venture with Finnish maker “Salora” by creating the Radio Telephonic Company called “Mobira”. They have also created the Nordic Mobile Telephone services which was later called as (NMT) network launched in 1981 which was the first telephonic services which was wireless.

The products that are offered in this industry are essentially smartphones. Handheld devices which besides being able to use for calling and texting, are capable of navigating the web with high tech processors that allow fast speed and access to apps that range from a wide variety of categories (Books, Business, Entertainment, Music and Audio, Navigation and Travel, Shopping, Social, etc.). The smartphones really became “smart” when they were capable of basically doing similar stuff that a computer does. I still remember when Nokia was a big hit back in the early 2000s with their color screen phones, or Motorola with their “Razr”, which you may remember was the latest in design.

EV: Generally, the threat of substitutes is low in the smartphone industry as there are not definite products that can readily substitute the smartphone. Consumers rely heavily on Smartphone and would not be able to find a close substitute that has all the function of a mobile phone. Furthermore, Nokia is a long and established company with many loyal customers. These people may continue to stay faithful to Nokia and are hence less resistant to change. Also, the perceived level of product

From Nokia’s website (2016) their values are designed to guide their decisions, their way of working, and their responsibilities to customers and other stakeholders, and to accomplish this, Nokia’s leadership needed to take several actions.

The term NOKIA can be defined as an “EVOLUTION” in global business. In the whole Nokia revolution, under Dan steinbock traces, Nokia has become the world leader with pinpoint details and maintained its position at the top of the head in such rapidly changing technology field. The miss-steps in the technology helped the technology of Nokia. And learnt some important techniques and lessons and came back with much more passion and lessons.