TWhen you have been No. 1 in any industry, the only was is down. This happened to Nokia, the Finnish mobile phone giant.
Nokia makes beautiful phones, but they needed to offer extra funtcions to keep up with Apple. To create a smartphone!
The iPhone has become the gold standard by which all other mobiles are measured.
Nokia has lost substantial ground in the North American cell phone market.
Apple, according to Nokia, has gotten a free ride since the iPhone launched—a very fast ride. Apple commands 22% of the smartphone market in the US, and globally, it holds 12% of the market, more than doubling its share from last year.
Meanwhile, despite its best efforts, Nokia has steadily lost ground. It holds 40% of the market, down from 43% last year, according to IDC. And in the competitive North American market, Nokia is barely holding its own with just 3%.
Nokia is now ringing the changes to create a range of smartphones able to match Apple's iPhone. But will it have it's rival's 'cool' factor?
Source: Fortune
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