Drop In Nokia’s Market Share In First Quarter
The popularity of Verizon has soured with the company’s introduction of the iPhone. T-Mobile, with its Catherine Zeta Jones ads, has remained a distant competitor.
Yet, Nokia has really suffered amidst the growing popularity of other companies, as Apple sold a record number of iPhones when they became compatible with Verizon users. Apple got a 95% rise in first-quarter profits.
Meanwhile, Nokia’s market share has dropped from 4% to 29%, according to the BBC.
The company hails from Finland and has recently been working to redefine the company’s strategy, according to Nokia chief executive Stephen Elop. Nokia was set to develop a smartphone in collaboration with Microsoft, who is undoubtedly making a move to compete with Apple.
Yet, if Nokia’s market share continues to fall, the development of this new smart phone may be permanently halted in a world where over-important technological devices have found their hands into fascinated and albeit bored users.
Yet, Elop told the BBC, “In the first quarter, we shifted from defining our strategy to executing our strategy.
On this front, I am pleased to report that we signed our definitive agreement with Microsoft and already our production design and engineering work is well underway.” Good thing, as it doesn’t seem likely Nokia will ever bounce back with the recent dominance of Verizon.*Sponsored Links*