Endgame for Nokia Mobiles

by Jörgen Eriksson on July 14, 2015

jim-morrison“This is the end, beautiful friend
This is the end, my only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end
I’ll never look into your eyes, again”

– Jim Morrison – The Doors, 1967

The above quote may seem far fetched, but it really is not. When I heard the latest news about Microsoft on July 8th, I thought about The Doors song. This really is the grand finale. The final, undeniable, unstoppable end of the great Nokia saga.

Last Thursday, Microsoft announced it would lay off another 7,800 workers in the smartphone business that it bought from Nokia, after they had already laid off 18,000 employees last year, and last week the company booked a $7.6 billion write-down on the mobile phone business. This said, keep in mind Microsoft bought Nokia´s mobile phone division for $9,4 billion two years ago, so now they have written off 80% of the purchase price.

For the past 3-4 years, we in Bearing have shown the two PowerPoint slides below to illustrate disruptive innovation. How accurate we were.

Screenshot 2015-07-13 22.59.55

Screenshot 2015-07-13 23.00.12

Below is a video from Financial Times about the latest and last word on the Nokia mobile phone saga.

Microsoft Ditches its Phones

About Jörgen Eriksson :

Jörgen Eriksson is the founder of Bearing and is the Chairman of the firm since it was created. He has successfully expanded Bearing into covering projects on four continents. He is also Adjunct Professor of Innovation Management at the International University of Monaco and at Universitat Politècnica de Catalunya in Barcelona and he is an active member of the Founders Alliance organisation.

Working with consulting engagements across Bearings practices, he has over the past fifteen years participated in and supervised a large number of client projects, from innovation system development and place development and branding, to merger and acquisition assignments and leading edge research and business development activities for key clients.

His new book, Branding for Hooligans, will be published in 2015. It is about how innovation and branding are key survival factors in our modern times of hyper competitive markets.

Prior to Bearing, he was Director of Europe, Middle East, and Africa for Trema Treasury Management, a technology and consulting services provider, supplying financial software solutions for the global financial industry, Clients included The European Central Bank, Citibank, SEB, South African reserve Bank, Deutsche Bank, Abu Dhabi Investment Authority (ADIA), as well as many other large financial institutions and Fortune 500 companies.

Early in his career Eriksson was educated at the Stockholm School of Economics, where he studied economics, financial economics and philosophy. He then worked in Scandinavian investment banks and also for the Swedish Institute of National Defense Research.

You can contact Jörgen on e-mail jorgen.eriksson@bearing-consulting.com, connect on LinkedIn on http://fr.linkedin.com/pub/jörgen-eriksson/0/38/8a0/ and follow him on twitter on joreri508.

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