In my life, I have witnessed one of the most spectacular fall of a giant in the technology industry, in fact in any industry, this must be Nokia. Nokia went from largest and most powerful company in the world in 2006 to now a part of Microsoft.
Nokia was one of the first company to get into the mobile phone business, it started selling mobile phone in the 1987 and established itself as the pioneer of the industry. During 1990s, Nokia was the dominant mobile manufacturer in the world and the brand-name to have.
In 2007 was the year that started the decline of Nokia. So why 2007? 2007 was the year Apple released the iPhone and launched the smartphone revolution, in 2008 Android was also released, with two competitors to Nokia.
Nokia failed to see the threats from Apple and Android, and still relying on its ageing and obsolete operating system Symbian.
It's sale and profit and market share has declined year by year since 2007 and in 2011, instead of using Android OS, Nokia choose Windows Phone and has abandoned it's Symbian platform altogether.
And 2014, Nokia was taken by Microsoft as it's mobile hardware manufacturer.
Source:
http://en.wikipedia.org/wiki/The_Decline_and_Fall_of_Nokia
http://www.theguardian.com/technology/2013/sep/03/nokia-rise-fall-mobile-phone-giant
http://www.cnet.com/au/news/farewell-nokia-the-rise-and-fall-of-a-mobile-pioneer/
-Xiaoyu Lu