Essay Vertu: Nokia's Luxury Phone

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Unit: 3 Vertu: Nokia’s Luxury Mobile Phone Case Study Analysis Kaplan University School of Business MT460 Management Policy and Strategy Author: Joyce Kerns Professor: Dr. Finlay Date: September 11, 2012 Vertu: Nokia’s Luxury Mobile Phone Introduction Nokia which is headquarters is located in Finland is a global telecommunications equipment manufacturer (Kwong & Wong, 2011). Stephen Elop the new CEO of Nokia announced a new mobile strategy to adopt Microsoft’s new but unproven Windows phone as its primary smart phone operating system (Kwong & Wong, 2011). The day of his big proclamation the stock market to a 14 cent dive. Vertu was the luxury mobile phone that was founded by Frank Nuovo in the 1990’s.…show more content…
Selected Solution to the Problem Stephen selected to fix the problem by selecting the Vertu Luxury Mobile Phone. The luxury mobile phone department was new and growing very fast globally. With the new developments the luxury mobile phone market looked promising and attracted new market entrants. For instance Mobiado, Gresso and GoldVish are brands that joined the new market (Kwong & Wong, 2012). Implementation Before the Ventu was released, which is a subsidiary of Nokia, Nokia launched its own entry level luxury phone the Nokia branded 8800 Series with the price set at 1,075 Euros (US. $1,300) level (Kwong & Wong, 2011). On January 21, 2002, the very first Vertu was presented the Museum of Modern Art in Paris (Kwong & Wong, 2011). In 2006 the special edition of Nokia 8800 series was introduced with Aston Martin, followed by the 24 karat gold plated version called the Nokia 8800 Series Sirocco Gold in 2007. In 2008 Nokia launched the Nokia 880 Carbon Arte. With these introductions Nokia continued to empower Vertu to take the lead in the high end luxury mobile phone market. Recommendations If I were a part of Nokia and worked for Stephen Elop, I would ask him to make “Designed to be admired, and made to be held,” the vision statement for our luxury mobile phone department. Ask him as from reading the article written that we need to come up with a

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