Nokia Corporation (NYSE:NOK) used to be the top company in their home country of Finland but not anymore. Fortum, an energy company from Finland, took their place on the Helsinki Stock Exchange. Their current value is at 15.8 billion Euros wheras Nokia’s current value is at 14.8 billion.
Despite the tough competition out there, the once burgeoning phone company is making a comeback as they have teamed up with Windows to create the Lumia smartphone series. It’s been five years since Nokia was valued at their highest of 110 billion in Euros and that drop in value is quite significant.
It’s easy to place the blame on Nokia for the loss of profits and they should take some of that blame. It took them awhile to catch up with smartphone game and they still have a long way to go. Apple debuted their iPhone the same year Nokia’s profits were at their highest, and unfortunately for the latter company, their profits have been slipping ever since. Currently, Apple earns the most profits for mobile devices as they take home 80% of the shares and Samsung takes about 15%.. This makes it tough for all the other companies to profit from their mobile devices.
If Nokia keeps going in the direction they’re in, they probably will continue to earn a small profit in sales, at least for a little while. Since the future of technology is always changing, it’s crucial to keep up with the latest trends. Perhaps, Nokia should keep looking towards the future in hopes of seizing the next big opportunity. I really would like to see Nokia regain their value as a company and I think that it is very possible they could regain their title as top company again if they continue on the path they’re in while keeping a close eye towards the future.