The Mission Statement

Topics: Mobile phone, Nokia, Smartphone Pages: 2 (383 words) Published: January 21, 2013
In this case study will discuss the strengths, weakness, opportunity’s and threats of the Vertu Nokia mobile phone. How well the company did and what the company will do to be completive in today’s changing world of mobile phones. Synopsis of the Situation

The situation of the Vertu is how the company can survive in today’s world of technology changes. Nokia manufactures a unique luxury mobile phone by using precious materials such as diamonds, sapphires, titanium and exotic leather for phone production. Key Issues

Nokia has a unique product and although it does well it has been shrinking in the market shares. Nokia hired Stephen Elop as the new CEO was given the task of revamping Nokia’s business and save it. Define the Problem

The problem is the drop in share price. The problem faced in the lack of ability to not only produce new products but sustain current innovations within the mobile arena. Another issue is the use of an unproven operating system before understand the effects of a fall that could occur. There is also not a set purpose of the change nor what the company can do for its shareholders. Alternative Solutions

The solution present was to phase out the outdated operating system and adopt Microsoft’s Window phone as its principal smartphone strategy. The transition from Symbian which was the outdated operating system to Windows Phone was a major move for Nokia and it could take it further by building a successful Third Ecosystem with Microsoft. Selected Solution to the Problem

Due to rapid economic growth in emerging markets like China and India, the Asia-Pacific became the fastest growing region for luxury mobile phones. With new developments the luxury mobile phone market looked promising and attracted new market entrants such as Mobiado, GoldVish and GRESSO. Other well established luxury brands, including Christian Dior, Tag Heuer, Versace and Ulysse Nardin also joined the luxury mobile industry through brand extension...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Mission Statement
  • Mission Statement Essay
  • Mission Statement Essay
  • Mission statement Essay
  • Value of Mission and Mission Statement Essay
  • Mission Statement Essay
  • Mission Statements Essay
  • Mission Statement Essay

Become a StudyMode Member

Sign Up - It's Free