What happened to Nokia is no secret: Apple and Android crushed it. But the reasons for that failure are a bit more mysterious.
It wasn’t just that Nokia failed to recognize the increasing importance of software, though. It also underestimated how important the transition to smartphones would be.
And there was another mistake. Nokia overestimated the strength of its brand, and believed that even if it was late to the smartphone game it would be able to catch up quickly. Long after the iPhone’s release, in fact, Nokia continued to insist that its superior hardware designs would win over users.
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