i. NOKIA CURRENT BRAND
Nokia is one of the leading brands in the industry of manufacturing mobile devices and in converging Internet and communications industries. The company is engaged in developing a range of devices for all the consumer segments and offering Internet services, Ovi, that enable people to experience music, maps, media, messaging and games. The giant mobile phone manufacturer also provides services for communications networks through Nokia Siemens Networks. The Finland-based manufacturer of mobile phones has been steadily working on its corporate brand name and the management of consumer perceptions over the last few years. Its efforts have paid off, because it is currently one of the most well-known and admirable brand in Finland in particular as well as around the world in general. The Nokia brand image is even solid in fast developing markets, where Nokia leads in market share and continues its strategy of targeting younger audiences However, given the economic downturn and competition for high-end phones from the niche rivals like Apple’s iPhone and RIM’s BlackBerry, Nokia reported a worse-than-expected 90 per cent slump in first quarter profits of 2009. As a result, the Nokia brand image has been affected and became less dominant as it used to be in the world market. While Nokia brand image is favorable and potent in the Smartphone category, where the company still leads in terms of sales volume, it has so far failed to produce a product to rival the buzz and profitability of the iPhone and lags behind RIM’s BlackBerry in the corporate market. According to “Best Global Brands 2009” ranking, although Nokia is still the fifth most valued brand, its brand value has decreased slightly by 3% from 2008. This figure is like alarming signal for Nokia not to rest on the laurels. The corporation has to innovate incessantly to catch up with and surpass its emerging and powerful... [continues]
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