What We Can Learn From Nokia CEO’s Speech After Microsoft Acquired Them


Photo from: Android Headlines

My first phone is a Nokia, a 3210 to be specific.

For quite some time, Nokia was king the world of mobile phones.

Until the playing field got shaken with the arrival of smartphones, mostly Android and iOS devices.

Some time ago, Nokia somewhat bowed out of the game, after Microsoft acquired them.

During the press conference of their acquisition, Nokia’s then-CEO, Stephen Elop, delivered a speech and ended it saying, “we didn’t do anything wrong, but somehow, we lost.” After saying that, a few tears were shed.

Apparently, Nokia didn’t do anything wrong, but they did things rather slowly.

In the middle of abrupt changes and developments, Nokia was unable to play catch up. Their competitors were so agile and Nokia missed out on evolving quickly, which lead them to lose the opportunity of becoming bigger than they already were.

Basically, the message means that if you don’t change quickly, or even change at all, you get eliminated.

Even a company as big and as stable as they appeared before, suffered the consequences.

Do you agree with this? Why or why not?