Where Nokia Went Wrong : The New Yorker

Where Nokia Went Wrong : The New Yorker

Nokia’s agreement on Tuesday to sell its handset business to Microsoft for $7.2 billion is something of a minor business coup for Nokia, since a year from now that business might well turn out to have been worth nothing.

It also demonstrates just how far and fast Nokia has fallen in recent years. Not that long ago, it was the world’s dominant and pace-setting mobile-phone maker.

Today, it has just three per cent of the global smartphone market, and its market cap is a fifth of what it was in 2007—even after rising more than thirty per cent on Tuesday. 



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