An Unforgettable Legacy - The Rise And Fall Of Nokia

Summary

This video narrates the remarkable rise and fall of Nokia, tracing its journey from a Finnish paper mill in 1865 to a global leader in mobile phones. It highlights Nokia's transformation through different industries, from electricity and rubber to telecommunications, and its pioneering role in mobile technology, with iconic phones like the Nokia 2100 series and the first GSM phone. However, the video also explores Nokia's decline due to its late response to the smartphone revolution, despite its lasting legacy in the mobile phone industry.

Takeaways

• 📜 Nokia was founded in 1865 by Finnish engineer Fredrik Idestam as a paper mill operator in Tampere, Finland.
• 🌲 The company's name 'Nokia' was inspired by the nearby Nokianvirta River, and it transitioned into electricity and other sectors after World War I.
• 📞 In 1967, Nokia Corporation was formed after merging with Finnish Rubber Works and Finnish Cable Works, producing products like cables, tires, and televisions.
• 📱 Nokia entered the mobile phone market in the 1980s, and in 1987, it launched the Mobira Cityman 900, earning fame when Mikhail Gorbachev used it to call Moscow.
• 📶 Nokia became a key player in the development of GSM technology and introduced the first GSM phone, the Nokia 1011, in 1992.
• 🔝 The Nokia 2100 series, featuring the iconic Nokia ringtone, was a blockbuster, selling over 20 million units worldwide, far exceeding initial projections.
• 📉 Nokia’s decline began with its failure to adapt to the smartphone revolution, losing market share to companies like Apple and Samsung by the late 2000s.
• 📊 Nokia partnered with Microsoft in 2011, launching the Lumia series, but the products faced mixed reviews and couldn't regain the company’s dominance.
• 🎵 The famous Nokia ringtone is based on the Spanish guitar tune 'Gran Vals' by Francisco Tárrega, recorded in 1887.
• 📚 Nokia’s impact on the mobile industry remains significant, with the Nokia 1100 being the top-selling mobile phone and consumer electronic device in May 2007.

Q & A

What year was Nokia founded, and who was its founder?

Nokia was founded in 1865 by a Finnish mining engineer named Frederick Eichtem.

What industry did Nokia initially start in?

Nokia initially started as a paper mill operator in Tampere, Finland, due to the high demand for paper in Europe at the time.

How did Nokia get its name?

Nokia got its name in 1871 when Frederick Eichtem expanded his operations to the nearby town of Nokia, which is located near the Nokian Verta River, 15 kilometers west of Tampere.

When did Nokia first list on the Helsinki Stock Exchange?

Nokia became the first Finnish company to list on the Helsinki Stock Exchange in 1915.

What major change did Nokia undergo in 1967?

In 1967, Nokia Corporation was formed as a result of a merger between three companies: Nokia, Finnish Rubber Works, and Finnish Cable Works.

What were some of Nokia's early products after the merger?

After the merger in 1967, Nokia produced various products such as rubber boots, car tires, cables, televisions, and communication systems.

What was Nokia's first major success in the mobile phone industry?

Nokia's first major success in the mobile phone industry was the Mobira Cityman 900, released in 1987. It gained fame when the Soviet Union's President Mikhail Gorbachev used it to make a call from Helsinki to Moscow, earning it the nickname 'The Gorba.'

What model marked Nokia’s entry into the GSM market?

Nokia entered the GSM market with the launch of the Nokia 1011 in 1992, which was the first GSM phone and had the ability to store 99 contacts.

What was one of Nokia's best-selling phone series, and how many units were sold?

One of Nokia's best-selling phone series was the Nokia 2100 series, which featured the famous Nokia ringtone for the first time. It was expected to sell 400,000 units but ended up selling over 20 million units worldwide.

What factors contributed to Nokia’s decline in the smartphone market?

Nokia’s decline in the smartphone market was primarily due to its slow response to changes in the industry and its failure to embrace drastic changes like the touchscreen revolution brought by Apple and Android devices. By the time it adapted, competitors like Apple, Samsung, and others had gained significant market share.

What happened to Nokia in 2014?

In 2014, Nokia's mobile phone division was acquired by Microsoft, effectively ending the legacy that began with Frederick Eichtem's paper mill.

What is the origin of the famous Nokia ringtone?

The famous Nokia ringtone originated from a guitar tune called 'Grand Valse,' composed by Spanish guitarist Francisco Tárrega in 1887. It was officially renamed the 'Nokia Tune' in 1999.