The CEO Who Missed The Point
2007 was remarkable for two events in the mobile universe: Nokia made its biggest ever profit and Apple launched the iPhone.
In 2007, Nokia sold 436 million phones – some 40% of all phones sold worldwide – and the company made a profit of €6.7 billion.
Next-best vendor was Mote with a lousy 164 million phones.
Nokia’s new CEO, Olli-Pekka Kallasvuo, who took over in 2006, thought software was the answer to the iPhone.
He bought map-maker Navteq for $8 billion, Trolltech ASA for $150 million and various social networking start-ups.
He pushed the development of services like music downloads and GPS navigation.
But, for some reason, Kallasvuo never twigged that the touch-screen had changed the market forever.Tags: Apple, nokia