The Rise of Nokia's Also-Rans
20.04.2015 19:31
In 2006, Nokia decided to spin off its also-ran mobile networking equipment business into a joint venture with fellow also-ran Siemens. That same year, French equipment maker Alcatel and its U.S. counterpart Lucent (AT&T's former equipment division), both still nursing their wounds from the turn-of-the-millennium telecom boom and collapse, combined forces.
For Nokia, partially (and maybe, eventually, fully) extricating itself from the struggling infrastructure business seemed like a smart and inevitable move. It remained, after all, the dominant player in mobile handsets (aka phones), and things were going pretty well there. Nokia’s unit sales rose 30 percent in 2006, and it grabbed two points of market share from rivals Motorola and Samsung.
So far, so good. Nokia’s stock price rose about 70 percent in 2007. In June of that year, though, Apple started selling iPhones. And pretty soon the world began to change. Nokia’s handset business didn't change with it:
(bloomberg.com)
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