Unveiling the SWOT Analysis of Nokia: A Comprehensive Study

About Nokia

Nokia Corporation, known as Nokia, is a Finnish multinational company specializing in telecommunications, information technology, and consumer electronics. Established in 1865, it is headquartered in Espoo, Finland, within the greater Helsinki metropolitan area, with its roots in the Tampere region of Pirkanmaa.

As of 2020, Nokia employed approximately 92,000 people across more than 100 countries, conducting business in over 130 countries and reporting annual revenues of around €23 billion.

Listed on the Helsinki Stock Exchange and New York Stock Exchange, Nokia is a public limited company. It was ranked as the 415th-largest company by 2016 revenues, according to the Fortune Global 500, reaching its peak at 85th place in 2009. Additionally, Nokia is a component of the Euro Stoxx 50 stock market index.

Quick Stats about Nokia

Services provided by Nokia

Services Provided by Nokia are:-

• Fixed network services 

Transform your broadband network and unlock its full potential.

• Services for industry and the public sector 

Maximize business value from your technology investments.

• Services for mobile networks

Maximize the business value of your network lifecycle.

Competitors of Nokia

There are numerous players in the Communication and Information Technology industry, the top 5 competitors are as follows:

• Samsung Electronics
• Apple
• Motorola
• Vivo
• Xiamoi

Buyer Persona of Nokia

Now let’s see what swot analysis does

What is a SWOT Analysis?

When conducting a SWOT analysis of Nokia, one must consider the internal aspects of the company, which are its strengths and weaknesses. These are elements that may be within the company’s control and have the potential to change.

The SWOT analysis, an acronym for Strengths, Weaknesses, Opportunities, and Threats, is a strategic tool used in this evaluation.

Examples 

include who is on the team, what are the patents and property, and location as well.

Opportunities and threats are the external part that is happening outside the company, within the larger market. You can cash in on opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.

The swot analysis of Nokia has changed drastically as compared to early age this block is all about the strengths, weaknesses, opportunities, and threats of Nokia. 

Around  155 years ago on 12 May 1865 Nokia, a single-mill operation Finnish multinational corporation, was founded. In the 19th century, the corporation took a high leap and expanded the company into several new products, and in 1967 it formed a corporation.

Later in the 20th century, with the popularity of computers and mobiles, it took advantage and increased its business. Later after a decade in 2014, the Nokia mobile phone business was sold to Microsoft.

Here in this blog, we will be discussing 

SWOT analysis, which means the top strengths, weaknesses, opportunities, and threats in an organized list and is typically presented during a simple two-by-two or four-by-four grid. 

How to do a SWOT analysis in a proper way 

To do a proper Swot analysis, you have to gather a team of people together to work on a SWOT analysis. We don’t need a full day to retreat and to get it done, though. Few hours such as one to two hours should be more than enough.

1. Gather the right people
2. Throw your ideas on the wall
3. Rank the ideas

The SWOT of Nokia elaborates on the strengths & weaknesses of, opportunities & threats for Nokia Corporation. It will provide a summary that will elaborate a discussion around the company’s strategy and situation. This analysis is often wont to evaluate the position of their business.

This is used to guide the overall strategy of business and strategy sessions of Nokia. It can also be wont to go far into a selected segment like Marketing, production, and sales. now we will be talking about the strengths, weaknesses, opportunities, and threats of Nokia.

SWOT Analysis of Nokia

Let’s take a look at the internal parts of Nokia. The internal parts include the strength of Nokia And the weaknesses of Nokia.

 Strengths in the SWOT analysis of Nokia

As it has a good position in the market the market portion of Nokia was around  39% to 40% which is double as compared to others.

It is the global brand image and has a fancy design in it and even has experienced local partners to keep the brand as a top brand.

It has a strong brand value and image most of customers often choose Nokia because their handsets do not break easily 

In  2019, it also won 62 commercial 5G deals and also launched 18 commercial 5G networks in major markets. Its technologies include the ones used in virtual mobile devices. 

Weaknesses in the SWOT analysis of Nokia

Nowadays due to poor sales services, Samsung and other such brands leaped. It took lots of time to enter the highly productive smartphone market.

As a result, it caused the company to lose a huge share of the market, and even though it does not have many varieties like other companies or brands, this has also affected the sales of Nokia.

secondly, the products are not affordable for some of the consumers, which affects their searches negatively.

The Finnish company has made lower profits and it led to a drop in sales and it leads to tough competition. 

Let’s jump toward the external parts which are the opportunities and threads 

Nokia’s External Factors mainly depend on two things:-

• Concentrating on the more advanced version of mobile phones will give a good sale to Nokia – Nowadays customers are trying to find mobile phones which are highly competitive with Apple’s iPhone 3G. Nokia’s Simplicity makes the customers expect more from them. The customers are expecting phones like Blackberry from Nokia. In simpler terms, customers expect a phone that exactly works like a PDA.
• Innovation acts as a key thing for every business to grow higher in the market – They have to continuously reinvent their strategies and provide the customer with something new. They have to think and innovate some new ideas that none of the competitors provide. An important opportunity is that the reduction in the cost of the decision charges in many countries provides the chance for Nokia to sell more products. THREAT:- Threat is also one of the external factors to effectively analyze the Company’s situation in the Market

Opportunities in the SWOT analysis of Nokia

In the SWOT analysis of Nokia, the opportunities that stand out include new growth markets and the development of other handheld devices that are well-designed, stylish, and based on advanced technology.

Nokia has made significant improvements in camera quality and has introduced products like the mini-notebook.

The company benefits from a large base of loyal customers and their support. The CDMA market is a crucial sector for Nokia. Additionally, Nokia has a substantial presence in developing countries. These factors collectively represent the opportunities in the SWOT analysis of Nokia.

Threats in the swot analysis of Nokia

Rivalry like Apple and iPhone have taken up the high market share from Nokia. Now the iPhone has become the most popular brand. Other rivalries like Samsung, Motorola, etc had made their brand more popular through my digital marketing strategy and to gain mid-market share from Nokia 

Strong competition from rival companies had looped hard for Nokia to maintain its market share. China mobile companies and others have low-cost threats that can cause big problems. After knowing all this swot let’s look at the causes of the downfall of Nokia

Causes of the downfall of Nokia

Here are some causes that led the Nokia market down

• Failure in Symbian OS and wrong deals with Windows
• Nokia became a lazy bone in the smartphone market 
• Losing market share on both ends 

now let’s take our feet towards turning the weakness into strength 

How to convert weakness to strength

Some tips to convert low market to high 

• Start making a mid-range smartphone, an Affordable price to attract customers towards it
• It should take a Quick reaction to new trends and don’t give a chance to rivalry
• It should launch a Smartphone with the latest OS like Android and look to bring the latest specifications to it 

Now let’s jump into the marketing strategy and see what they 

What should be the marketing strategy of Nokia

Let’s see some marketing strategy of Nokia 

• Nokia should look to launch more and more products with the latest features in it.
• Secondly, it should look up to advertise the product in the digital world with a digital marketing strategy with an SEO  perspective  
• It should also look to market the product on platforms such as Facebook, Instagram, and many more such platforms where it could find several youths and as well as people of every age which would help to increase the number of customers. 
• It should lower the price of cellphones and smartphones so that it could bring huge customer attraction towards it.

Conclusion

Here we come to an end and have looked at the SWOT analysis of Nokia, the things like strengths, weaknesses, opportunities, threats, and causes of the downfall of the Nokia market and have learned how to convert weaknesses into strengths and different marketing strategies of Nokia.

How they use the digital marketing strategy( note – if you want to learn digital marketing courses here is one of the best institutes of India and soon it will be ruling the world IIDE go learn and get high-paying job opportunities and here are some free masterclasses session of 1 hour every Saturday) to again come to leap.

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