Time changes everything. A king may become a beggar in two days. Nokia’s journey from being the king of mobile phone making to a company which is struggling to survive followed the same logic.
Now Nokia is a sinking ship as stiff competition has taken away both market share and thus revenue from its vaults leaving it to play an end game.
Despite its tie up with Microsoft and somewhat positive response towards its Lumia devices, the Finnish phone maker is still struggling. So now they are going for the usual thing sinking companies do to save the ship – axing employees.
Nokia has made two important announcements recently to please its investors and to improve its revenue figures. One of them is to axe some 10000 employees from their work force to reduce duplication and to help focusing on high value products.
According to an assumption, one of three employees in Nokia may lose their job during the downs sizing exercise by the struggling company.
Nokia’s next announcement is about its changing the market strategy where it is finding it tough to fight the war against the Android rivals. If HTC think they will not try to improve market figures by selling cheap phones, Nokia thinks just the opposite.
So they think that selling cheaper phones is the only way to fight the competition from cheaper Android phones.
Though Nokia already have an entry level Windows Phone, the company plans to bring down the price tag to an even lower level, to lure the budget market where Android reigns.
Now tell us if you think cheaper Nokia phones can actually fight the war against Android rivals?